Question
Determine the unit value that should be used for inventory costing following lower of cost or market value. A B C D E F Cost$2.35$2.47$2.35$2.54$2.44$2.44
Determine the unit value that should be used for inventory costing following "lower of cost or market value".
ABCDEF
Cost$2.35$2.47$2.35$2.54$2.44$2.44
Replacement cost2.202.552.202.522.372.46
Net realizable value2.502.502.502.452.502.50
Net realizable value less normal profit2.252.302.402.302.302.30
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Corporate Financial Accounting
Authors: Carl S Warren, Jeff Jones
16th Edition
0357510380, 978-0357510384
