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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: a. Viking has 960

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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: a. Viking has 960 video games in stock. The games cost $58 each, but their year-end replacement cost is $48. Viking has been selling the games for $96, but competitors are now selling them for $80. Viking plans to drop its price to $80. Viking's normal gross profit on video games is 50%. b. Viking has 480 rolls of camera film that are past the expiration date marked on the film's box. The films cost $2.64 each and are normally sold for $5.28. New replacement films still cost $2.64. To clear out these old films, Viking will drop their selling price to $2.50. There are no related selling costs. c. Viking has 8 cameras in stock that have been used as demonstration models. The cameras cost $288 and normally sell for $448. Because these cameras are in used condition, Viking has set the selling price at $256 each. Expected selling costs are $16 per camera. New models of the camera (on order) will cost Vikings $320 and will be priced to sell at $512

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