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9 Furniture Fashions sells high end furniture (dressers, chairs, sofos, and tables). Due to vacillating customer tastes and fierce competition attainable selling prices have been

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9 Furniture Fashions sells high end furniture (dressers, chairs, sofos, and tables). Due to vacillating customer tastes and fierce competition attainable selling prices have been erratic, particularly for certain types of furniture. Based on its experience, management projects next year's sales prices of year-end Inventory using the trend in monthly sales prices during the current year. Presented below are those trends in sales prices for each of its four types of inventory, along with next year's projected sales price Also presented are the number of units of ending inventory and the average cost of each of those units 125 point to Average Monthly Sales Prices and Projections $3,000 52.67 $2.000 51.300 S11 $1.000 0 550 So 1 Set Orto Units of Ending Inventory Average Unit Cost of Ending Inventory 51,670 9 Units of Ending Inventory 75 Average Unit Cost of Ending Inventory $1,670 $1.540 70 65 125 SRSRR $1,800 $1,600 $1,400 $1.200 $1.000 Sato 20 $600 $400 $320 30 520 20 a Dresden Chair Table nen Chair Tables Cene 10.00 Required: 1. Which of the company product lines has seen the greatest growth in ta os prices over the current year? 2. Besed on the trendlines provided, for which product line does management project to sell below its average unit cost in the following year (Hint Compare projected sales prices to the bacchot showing average unit COS? 3. Prepare the year end odusting entry to record inventory at the lower of cost or necrozable valve Hint Be sure to account for the number of units of ending inventory in your colcation 9 Click here to open the graphislaino new tab. 25 Saints Required: 1. Which of the company's product lines has seen the greatest growth in sales prices over the current year? 2. Based on the trend lines provided, for which product line does management project to sell below its average unit cost in the following year (Hint Compare projected sales prices to the bar chart showing average unit cost? 3. Prepare the year-end adjusting entry to record inventory at the lower of cost or net realizable value (Hint: Be sure to account for the number of units of ending inventory in your calculation). 500k Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Which of the company's product lines has seen the greatest growth in sales prices over the current year? Dressers Chairs Sofas Tables Required 2 > 9 Click here to open the granbolino new tab. 125 point Required: 1. Which of the company's product lines has seen the greatest growth in sales prices over the current year? 2. Based on the trend lines provided, for which product line does management project to sell below its average unit cost in the following year (Hint: Compare projected sales prices to the bar chart showing average unit cost? 3. Prepare the year-end adjusting entry to record inventory at the lower of cost or net realizable value (Hint Be sure to account for the number of units of ending inventory in your calculation), Book Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Based on the trend lines provided, for which product line does management project to sell below its average unit cost in the following year (Hint: Compare projected sales prices to the bar chart showing average unit cost)? Dressers Chairs Sofas Tables 9 number of units of ending inventory in your calculation). (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list 125 points Journal entry worksheet Print Record the inventory using the lower of cost or net realizable value. Note: Enter debit before credits Event General Journal Debit Credit Record entry Clour entry View general al

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