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Departures from Acquisition Cost Determine the proper total inventory value for each of the following items in Viking Company's ending inventory: rdu a a. Viking
Departures from Acquisition Cost Determine the proper total inventory value for each of the following items in Viking Company's ending inventory: rdu a a. Viking has 840 video games in stock. The games cost $50 each, but their year-end replacement cost is $42. Viking has been selling the games for $84, but competitors are now selling them for $70. Viking plans to drop its price to $70. Viking's normal gross profit on video games is 40%. b. Viking has 420 rolls of camera film that are past the expiration date marked on the film's box. The films cost $2.31 each and are normally sold for $4.62. New replacement films still cost $2.31. To clear out these old films, Viking will drop their selling price to $2.00. There are no related selling costs. c. Viking has 7 cameras in stock that have been used as demonstration models. The cameras cost $252 and normally sell for $392. Because these cameras are in used condition, Viking has set the selling price at $224 each. Expected selling costs are $14 per camera. New models of the camera (on order) will cost Vikings $280 and will be priced to sell at $448. $ 555 b. $ C$ 0 0 0
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