A specialized retailer has a selection of five products. The following is information relating to these products.

The company estimates selling costs to be 5% of selling price, primarily for sales commissions.

Requirement

Determine the amount of inventory write-down, if any. (NRV = Net realizable value. Round all unit amounts to the nearest cent. Enter a "0" if no write-down is required.)

Use the student to show work button to answer the following.

Calculate the closing inventory. Justify your answer according to the accounting standard AASB 102

(Kindly show workings for each part please!)

A specialized retailer has a selection of five products. The following is information relating to these products. (Click the icon to view the data.) The company estimates selling costs to be 5% of selling price, primarily for sales commissions. Requirement Determine the amount of inventory write-down, if any. (NRV = Net realizable value. Round all unit amounts to the nearest cent. Enter a "0" if no write-down is required.) Use the student to show work button to answer the following, Calculate the closing inventory. Justify your answer according to the accounting standard AASB 102 Data Table Cost Selling Selling NRV Total Write-down per unit costs per write-down Product # Units per unit unit required for product per price unit per unit 20 S 120 70 150 Product # Units Selling price Cost per unit $ 20 A 120 $ A 120 S 120 B 230 B 230 70 150 310 80 50 310 80 50 D 120 120 60 D 120 120 60 E 310 180 260 E 310 180 260 Print Done