Question
2) Berry, Inc. has 6 computers which have been part of the inventory for over two years. Each computer cost $600 and originally retailed for
2) Berry, Inc. has 6 computers which have been part of the inventory for over two years. Each computer cost $600 and originally retailed for $900. At the statement date, each computer has a net realizable value of $450. What value should Berry, Inc. have for the computers at the end of the year? O $2,700 O $5.400 O $1,800 $3,600 3) A company just starting business made the following four inventory purchases in June: Number of units Date purchased June 1 120 units Total cost $370 June 10 240 units 600 June 15 240 units 600 June 28 150 units 490 $2060 A physical count of merchandise inventory on June 30 reveals that there are 350 units on hand. Using the LIFO inventory method. the value of the ending inventory on June 30 is O5995 $420 $945. O $1065
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