{ "key_pair_value_system": true, "answer_rating_count": "", "question_feedback_html": { "html_star": "", "html_star_feedback": "" }, "answer_average_rating_value": "", "answer_date_js": "2024-05-26T17:01:06-04:00", "answer_date": "2024-05-26 17:01:06", "is_docs_available": "", "is_excel_available": "", "is_pdf_available": "", "count_file_available": 0, "main_page": "student_question_view", "question_id": "1749656", "url": "\/study-help\/questions\/bramble-company-determined-its-ending-inventory-at-cost-and-at-1749656", "question_creation_date_js": "2024-05-26T17:01:06-04:00", "question_creation_date": "May 26, 2024 05:01 PM", "meta_title": "[Solved] Bramble Company determined its ending inv | SolutionInn", "meta_description": "Answer of - Bramble Company determined its ending inventory at cost and at LCNRV at December 31, 2020, December 31, 2021, and Dece | SolutionInn", "meta_keywords": "bramble,company,determined,ending,inventory,cost,lcnrv,december,31,2020,2021,2022", "question_title_h1": " Bramble Company determined its ending inventory at cost and at LCNRV at December 31, 2020, December 31, 2021, and December 31, 2022, as shown", "question_title": " Bramble Company determined its ending inventory at cost and at LCNRV", "question_title_for_js_snippet": "Bramble Company determined its ending inventory at cost and at LCNRV at December 31, 2020, December 31, 2021, and December 31, 2022, as shown below Cost NRV 12 31 20 $667,900 $667 900 12 31 21 724,700 661,500 12 31 22 816,400 745,900 Prepare the journal entries required at December 31, 2021, and at December 31, 2022, assuming that a perpetual inventory system and the cost of goods sold method of adjusting to LCNRV is used (Credit account titles are automatically indented when amount is entered Do not indent manually If no entry is required, select No entry for the account titles and enter for the amounts ) Date Account Titles and Explanation 12 31 21 12 31 22 List of Accounts Debit Credit Prepare the journal entries required at December 31, 2021, and at December 31, 2022, assuming that a perpetual inventory is recorded at cost and reduced to LCNRV using the loss method (Credit account titles are automatically indented when amount is entered Do not indent manually If no entry is required, select No entry for the account titles and enter O for the amounts ) Date Account Titles and Explanation 12 31 21 12 31 22 List of Accounts Debit Credit", "question_description": "\"image", "transcribed_text": "Bramble Company determined its ending inventory at cost and at LCNRV at December 31, 2020, December 31, 2021, and December 31, 2022, as shown below. Cost NRV 12\/31\/20 $667,900 $667.900 12\/31\/21 724,700 661,500 12\/31\/22 816,400 745,900 Prepare the journal entries required at December 31, 2021, and at December 31, 2022, assuming that a perpetual inventory system and the cost-of-goods-sold method of adjusting to LCNRV is used. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select \"No entry\" for the account titles and enter for the amounts.) Date Account Titles and Explanation 12\/31\/21 12\/31\/22 List of Accounts Debit Credit Prepare the journal entries required at December 31, 2021, and at December 31, 2022, assuming that a perpetual inventory is recorded at cost and reduced to LCNRV using the loss method. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select \"No entry\" for the account titles and enter O for the amounts.) Date Account Titles and Explanation 12\/31\/21 12\/31\/22 List of Accounts Debit Credit", "related_book": { "title": "Intermediate Accounting", "isbn": "032459237X, 978-0324592375", "edition": "17th Edition", "authors": "James D. Stice, Earl K. Stice, Fred Skousen", "cover_image": "https:\/\/dsd5zvtm8ll6.cloudfront.net\/si.question.images\/book_images\/92.jpg", "uri": "\/textbooks\/intermediate-accounting-17th-edition-92", "see_more_uri": "" }, "free_related_book": { "isbn": "B0CGKYPV3D", "uri": "\/textbooks\/accounting-ledger-logbook-b0cgkypv3d-121688", "name": "Accounting Ledger Logbook", "edition": "" }, "question_posted": "2024-05-26 17:01:06", "see_more_questions_link": "\/study-help\/questions\/business-marketing-2022-June-08", "step_by_step_answer": "The Answer is in the image, click to view ...", "students_also_viewed": [ { "url": "\/study-help\/questions\/controlling-program-flow-wi-an-atm-using-selection-statements-658448", "description": "Controlling Program Flow w\/i an ATM Using selection statements & loops to complete the following: Validate the user's PIN -- only allow them to attempt three (3) times before ending the program If...", "stars": 3 }, { "url": "\/xia-corporation-is-a-company-whose-sole-assets-are-100000", "description": "Xia Corporation is a company whose sole assets are $100,000 in cash and three projects that it will undertake. 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