Check m E7-12 Reporting Inventory at Lower of Cost or Market/Net Realizable Value [LO 7-4 Sandals Company is preparing the annual financial statements dated December 31. Ending inventory is presently recorded at its total cost of $5,465. Information about its inventory items follows Quantity Unit Cost When on Hand Acquired (FIFO) Product Line Air Flow Blister Buster Coolonite Dudesly Value at Year-End $14 38 50 35 $12 40 20 75 35 10 30 s Required: 1. 2. How will the write-down of inventory to lower of cost or marketet realizable value affect the cmpany's expenses reported for the Compute the LCMNRV write-down per unit and in total for each item in the table. Also compute the total overall write-down for all tems. mpute the amount that should be reported for the inventory on December 31, after the LCM/NRV rule has been applied to eacth item. year ended December 31? Complete this question by entering your answers in the tabs below Required 1 Required 2 Required 3 K Prev 2 of 4 Next > 10 Check Required: 1. Compute the LCM/NRV write-down per unit and in total for each item in the table. Also compute the total overall write-down for all items. year ended December 31? item. 2. How will the write-down of inventory to lower of cost or marketet realizable value affect the company's expenses reported for the 3. Compute the amount that should be reported for the inventory on December 31, after the LCM/NRV rule has been applied to each 3:14-48 ook Complete this question by entering your answers in the tabs below rint Required 1 Required 2 Required 3 Compute the LCM/NRV write-down per unit and in total for each item in the table. Also compute the total overall write-down for all items. Produrt ine na ct Line Quantity Write-down Total 20 75 35 10 Air Flow Bilister Buster Total Required 2> 10 Required 1. Compute the LCM/NRV write-down per unit and in total for each item in the table. Also compute the total overall write-down for all 2. How will the write-down of inventory to lower of cost or marketet realizable value affect the company's expenses reported for the 3. Compute the amount that should be reported for the inventory on December 31, after the LCM/NRV rule has been applied to each items. year ended December 31? item. Complete this question by entering your answers in the tabs below Required 1 Requiredi Required 3 How will the write-down of inventory to lower of cost or marketet realizable value affect the company's expenses reported for the year ended December 317 will be C Required 1 Required 3> K Prev 2 of 4 Next> 10 Required: 1. Compute the LCM/NRV write-down per unit and in total for each item in the table. Also compute the total overall write-down for all 2. How will the write-down of inventory to lower of cost or marketet realizable value affect the company's expenses reported for the 3. Compute the amount that should be reported for the inventory on December 31, after the LC/NRV rule has been applied to each items. year ended December 31? item. Complete this question by entering your answers in the tabs below Required 1 Required 2 Required 3 Compute the amount that should be reported for the inventory on December 31, after the LCM/NRV rule has been applied to each item ten C Required 2 equired 3 K Prev 2 of 4 Next> 10
