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3. Presented below is information related to Rembrandt Inc.s inventory, assuming Rembrandt uses lower-of-LIFO cost-or-market. (per unit) Skis Boots Parkas Historical cost $190.00 $106.00 $53.00
| 3. Presented below is information related to Rembrandt Inc.s inventory, assuming Rembrandt uses lower-of-LIFO cost-or-market. | ||||||
| (per unit) | Skis | Boots | Parkas | |||
| Historical cost | $190.00 | $106.00 | $53.00 | |||
| Selling price | 212 | 145 | 73.75 | |||
| Cost to distribute | 19 | 8 | 2.5 | |||
| Current replacement cost | 203 | 105 | 51 | |||
| Normal profit margin | 32 | 29 | 21.25 | |||
| Complete the following table: | ||||||
| Item | Historical cost | Replacement Cost | Net Realizable value | Net Realizable value less normal profit | Designated Market Value | Final Inventory Value |
| Skis | ||||||
| Boots | ||||||
| Parkas | ||||||
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Analysis Synthesis And Design Of Chemical Processes
Authors: Richard Turton, Joseph Shaeiwitz, Debangsu Bhattacharyya, Wallace Whiting
5th Edition
0134177401, 978-0134177403
