Answered step by step
Verified Expert Solution
Question
1 Approved Answer
How much is the gain on reversal on inventory writedown? Question Completion Status Moving to another question will save this response. Question 3 of 16
How much is the gain on reversal on inventory writedown?
Question Completion Status Moving to another question will save this response. Question 3 of 16 2 Question 3 2 points Save Anne Lakers Company installs replacement siding, windows, and louvered glass doors for family homes. At December 31, 2019. the balance of inventory account was P750.000, and the allowance for inventory writedown was P45,000. The inventory cost and other data at December 31, 2019, are as follows: (amounts in thousands) Estimated Replacement Estimated Selling Scost of Normal Cost Price Profit disposal Item A 158 9 8 160 B C Cost 155 150 215 230 750 148 158 228 117 651 12 9 12 17 20 58 218 225 761 D Total 10 39 How much is the gain on reversal on inventory writedown? Write al digits in your finalStep by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started