FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

A company has four items of inventory and their cost and NRVs are as follows. Inventory item Cost NRV $ $ 1 27 32 2

  1. A company has four items of inventory and their cost and NRVs are as follows.

Inventory item Cost NRV

$ $

1 27 32

2 14 15

3 43 55

4 30 29

114 131

What is the value of closing inventory?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Endangered Economies How The Neglect Of Nature Threatens Our Prosperity

Endangered Economies How The Neglect Of Nature Threatens Our Prosperity

Authors: Geoffrey Heal

1st Edition

0231180845, 9780231180849

More Books

Students also viewed these Accounting questions

Question

★★★★★
Find the mean, median, mode, and range for each data set given. a. 7, 12, 1, 7, 6, 5, 11 b. 85, 105, 95, 90, 115 c. 10, 14, 16, 16, 8, 9, 11, 12, 3 d. 10, 8, 7, 5, 9, 10, 7 e. 45, 50, 40, 35, 75 f....

Answered: 1 week ago

Question

★★★★★
What differences, if any, do you think exist in the way that a professional hotelier would manage an American-owned hotel in the United States or a European- or Asian-owned hotel in the United States?

Answered: 1 week ago

Question

★★★★★
1. Authoritative teaching strategies are associated with what students identify as good teachers. Identify which one of the following educators is demonstrating authoritative techniques in the...

Answered: 1 week ago

Question

★★★★★
Balanced scorecard and strategy. Music Master Company manufactures an MP3 player called the Mini. The company sells the player to discount stores throughout the country. This player is significantly...

Answered: 1 week ago

Question

★★★★★
A company expects each product to take 4 hours to make at a cost of 15 per hour. It expects to make 6,000 products this period. At the end of the period the company had made 6,500 products, used...

Answered: 1 week ago

Question

★★★★★
ABC company purchased inventory by 250 JDs at Jan,1,2016, holding this inventory until Dec,31,2018 when it sold that inventory by 295 JD. The current value of that inventory between the purchasing...

Answered: 1 week ago

Question

★★★★★
Question 1 Suppose there are only two goods in the economy: Yo-yos and Marbles. Bob only cares about his consumption of Yo-yos; the more Yo-yos he has the happier he is, regardless of his consumption...

Answered: 1 week ago

Question

★★★★★
Mar Company has two decentralized divisions, X and Y. Division X has always purchased certain units from Division Y at $75 per unit. Because Division Y plans to raise the price to $100 per unit,...

Answered: 1 week ago

Question

★★★★★
Salem-Winston Corporation is emerging from reorganization proceedings under Chapter 11 of the bankruptcy laws. The company's balance sheet shows total assets of $4,500,000, liabilities subject to...

Answered: 1 week ago

Question

★★★★★
Q11 A car is moving at constant speed in a straight line with the engine providing a driving force equal to the resistive force F. When the engine is switched off, the car is brought to rest in a...

Answered: 1 week ago

Question

★★★★★
Describe what management should understand and consider about network technologies, protocols, and convergence. Identify some advantages and challenges associated with networks.

Answered: 1 week ago

Question

★★★★★
Also, in Chapter 6, we discussed developing trust. The five dimensions of trust are integrity, competence, consistency, loyalty, and openness. Apply this concept to Googles decision to reveal its...

Answered: 1 week ago

Question

★★★★★
What is the evidence from the case that Google values diversity or understands the importance of diversity?

Answered: 1 week ago

Question

★★★★★
The text identifies five areas where discrimination in employment is most common: recruitment, selection, compensation, upward mobility, and evaluation. In your opinion, how is Google doing in these...

Answered: 1 week ago

Previous Question Next Question