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Almaden Hardware Store sells two product categories, tools and paint products. Information pertaining to its 2 0 2 1 year - end inventory is as
Almaden Hardware Store sells two product categories, tools and paint products. Information pertaining to its yearend inventory is as follows: Inventory, by Product Category Quantity Per Unit Cost Net Realizable Value Tools: Hammers $ $ Saws Screwdrivers Paint products: gallon cans Paint brushes Required: Determine the carrying value of inventory at yearend, assuming the lower of cost or net realizable value LCNRV rule is applied to a individual products, b product categories, and c total inventory. Assuming inventory writedowns are common for Almaden, record any necessary yearend adjustment amount for each of the LCNRV applications in requirement Determine the carrying value of inventory at yearend, assuming the lower of cost or net realizable value LCNRV rule is applied to a individual products, b product categories, and c total inventory. tableProductCost,tableNetRealizableValueLower of cost and NRVtableByIndividualProductstableByProductCategoriestableBy TotalInventoryTools:Hammers$Sawsdiamond,ScrewdriversTotal tools,$Paint products:gallon cans,$Paint brushes,,Total paint,$Total$
Almaden Hardware Store sells two product categories, tools and paint products. Information pertaining to its yearend inventory is as follows:
Inventory,
by Product Category Quantity Per Unit
Cost Net Realizable Value
Tools:
Hammers $ $
Saws
Screwdrivers
Paint products:
gallon cans
Paint brushes
Required:
Determine the carrying value of inventory at yearend, assuming the lower of cost or net realizable value LCNRV rule is applied to a individual products, b product categories, and c total inventory.
Assuming inventory writedowns are common for Almaden, record any necessary yearend adjustment amount for each of the LCNRV applications in requirement Determine the carrying value of inventory at yearend, assuming the lower of cost or net realizable value LCNRV rule is applied to a individual products, b product categories, and c total inventory.
tableProductCost,tableNetRealizableValueLower of cost and NRVtableByIndividualProductstableByProductCategoriestableBy TotalInventoryTools:Hammers$Sawsdiamond,ScrewdriversTotal tools,$Paint products:gallon cans,$Paint brushes,,Total paint,$Total$
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