(L01) Presented below is information related to Rembrandt Inc.s inventory. (per unit) Skis Boots Parkas Historical cost...
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(L01) Presented below is information related to Rembrandt Inc.’s inventory.
(per unit) Skis Boots Parkas Historical cost $190.00 $106.00 $53.00 Selling price 212.00 145.00 73.75 Cost to sell 19.00 8.00 2.50 Cost to complete 32.00 29.00 21.25 Determine the following:
(a) the net realizable value for each item, and
(b) the carrying value of each item under LCNRV.
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