Question
Accounting department at Swatch, the Swiss Watch Company, prepared the following schedule comparing the total cost and Net Realisable Value (NRV) of its December 31,
Accounting department at Swatch, the Swiss Watch Company, prepared the following schedule comparing the total cost and Net Realisable Value (NRV) of its December 31, 2019 ending inventory
| Particulars | Total Cost | Total NRV |
| Product A | $ 28,000 | $ 29,000 |
| Product B | 46,000 | 36,000 |
| Product C | 30,000 | 31,000 |
| Total | $ 104,000 | $ 96,000 |
Inventory vlaue shown in balance sheet for all products together is
| a | 106000 |
| b | 96000 |
| c | 94000 |
| d | None |
Accounting department at Swatch, the Swiss Watch Company, prepared the following schedule comparing the total cost and Net Realisable Value (NRV) of its December 31, 2019 ending inventory
| Particulars | Total Cost | Total NRV |
| Product A | $ 28,000 | $ 29,000 |
| Product B | 46,000 | 36,000 |
| Product C | 30,000 | 31,000 |
| Total | $ 104,000 | $ 96,000 |
Inventory vlaue shown in balance sheet for Product A, is
| a | 29000 |
| b | 28000 |
| c | 28500 |
| d | None |
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CA FOUNDATION FINANCIAL ACCOUNTING BY NSHAH MODULE I
Authors: Sanjay Nanak Chand Thadhani
1st Edition
172887419X, 978-1728874197
