Question
1. Given the acquisition cost of product Z is $36, the net realizable value for product Z is $32, the normal profit for product Z
1. Given the acquisition cost of product Z is $36, the net realizable value for product Z is $32, the normal profit for product Z is $5, and the market value (replacement cost) for product Z is $28, what is the proper per unit inventory price for product Z using LCNRV?
2. Techno uses the LIFO cost method. Given the acquisition cost of product Z is $36, the net realizable value for product Z is $32, the normal profit for product Z is $5, and the market value (replacement cost) for product Z is $28, what is the proper per unit inventory price for product Z using LCM?
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Auditing A Risk Based Approach to Conducting a Quality Audit
Authors: Karla Johnstone, Audrey Gramling, Larry E. Rittenberg
10th edition
1305080572, 978-1305465664, 1305465660, 978-1305080577
