FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

In 2021, a company that produces electrical products purchased 150 kg of osmium at $11,620 per kg. In 2022, the net realizable value of osmium

In 2021, a company that produces electrical products purchased 150 kg of osmium at $11,620 per kg. In 2022, the net realizable value of osmium was $13,280 per kg. 

If the company had 37 kg of osmium left in its inventory at the end of 2022, what would it report on the osmium inventory in its 2022 year-end balance sheet?


Step by Step Solution

★★★★★

3.48 Rating (148 Votes )

There are 3 Steps involved in it

Step: 1

Based on the information provided the company initially purchased 150 kg of osmium in 2021 at a cost ... blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Basic Business Statistics Concepts And Applications

Basic Business Statistics Concepts And Applications

Authors: Mark L. Berenson, David M. Levine, Timothy C. Krehbiel

12th Edition

132168383, 978-0132168380

More Books

Students also viewed these Accounting questions

Question

★★★★★
The Bigfork Company is a retail company that began operations on January 1,2018. The Bigfork Company is authorized to issue 1,000,000 shares of P10 par value ordinary share and 500,000 shares of 3%,...

Answered: 1 week ago

Question

★★★★★
At December 31, 2020 before any year-end adjustments, accounts receivable had balance of $260000. Credit sales for 2020 are $610000, and allowance for uncollectible accounts had a credit balance of...

Answered: 1 week ago

Question

★★★★★
Use the data given in Table 3.9 to compute the mean, standard deviation, coefficient of variation, and coefficient of skewness for the current ratio of JNJ. Table 3.9 Year 1990 1991 1992 1993 1994...

Answered: 1 week ago

Question

★★★★★
You have been serving as Electroscans project manager and are now well along in the project. Develop a narrative status report for the board of directors of the chain store that discusses the status...

Answered: 1 week ago

Question

★★★★★
Classify each number listed as one or more of the following: natural number, whole number, integer, rational number, or real number. 2, 5, 0, 1.23, V7, V16

Answered: 1 week ago

Question

★★★★★
Evaluate criticisms of DSM-5.

Answered: 1 week ago

Question

★★★★★
In each of the following, identify the type of scale and evaluate it: a. A U.S. representatives questionnaire sent to constituents: Do you favor or oppose the Fair Tax Proposal? b. How favorable are...

Answered: 1 week ago

Question

★★★★★
CETT 1 3 2 5 Digital Fundamentals Lab 1 . 5 : Digital Signals & Numbers \ table [ [ , Decimal,Binary, \ table [ [ Binary Coded ] , [ Hexadecimal ( BCH ) ] ] , Octal,Hexadecimal ] , [ Sample , 2 7 1 0...

Answered: 1 week ago

Question

★★★★★
Erica and Bob participate in a friendly Hackathon that allows each to solve one question a day out of the three offered. There will be one easy, one medium and one hard question, with points awarded...

Answered: 1 week ago

Question

★★★★★
7 Let p x be the sum of the first 2 non zero terms of the Taylor series for sin x centered at x 0 The maximum value of sin x p x for 1 2 x 1 7 is ANS 0 110 Show Transcribed Text

Answered: 1 week ago

Question

★★★★★
Which item would most likely be classified as a fixture once attached onto real property? Select one: A. Wooden fence B. Plasma 50 TV C. Refrigerator D. Countertop microwave

Answered: 1 week ago

Question

★★★★★
Which of the following is NOT a remedial measure to control business cycles. Question 3 options: Indirect measures Monetary measures Fiscal measures Physical measures

Answered: 1 week ago

Question

★★★★★
Leahy inc, has 10 customers that account for all of its $1,472,000 of net income. its activity-based costing system is able to assign all costs, except for $200,000 of general administrative costs,...

Answered: 1 week ago

Question

★★★★★
When carrying out the control process at MGT , Inc. s manufacturing plant, Sally focuses her attention on the few defective components produced on the assembly line. Although she is concentrating on...

Answered: 1 week ago

Question

★★★★★
Two events each have the probability 0.2 of occurring. The probability that neither is 0.6. These events are: A) mutually exclusive B) independent C) conditional D) mutually exclusive and independent...

Answered: 1 week ago

Question

★★★★★
can you please explain how do i do this assignment please I dont know how to do this assignment please explain. Directions for completing and submitting the homework: . You may use a word processor...

Answered: 1 week ago

Question

★★★★★
Software Solution is family-owned business that has been in operation for more than 15 year. The board of directors is comprised of mainly family members, plus a few professionals such as an...

Answered: 1 week ago

Question

★★★★★
An operations manager wants to examine the effect of air-jet pressure (in pounds per square inch [psi]) on the breaking strength of yarn. Three different levels of air-jet pressure are to be...

Answered: 1 week ago

Question

★★★★★
Compare and contrast the bar chart for categorical data with the histogram for numerical data.

Answered: 1 week ago

Question

★★★★★
Where people turn for news is different for various age groups. (Data extracted from "Cellphone Users Who Access News on Their Phones," USA Today, March 1, 2010, p. 1A.) A study was conducted on the...

Answered: 1 week ago

Question

★★★★★
A rental agreement requires the payment of $1000 at the beginning of each month. a. What single payment at the beginning of the rental year should the landlord accept instead of twelve monthly...

Answered: 1 week ago

Question

★★★★★
If RRSP contributions of $3030.02 at the end of every six months are projected to generate a plan worth $500,000 in 25 years, what nominal and effective rates of return were assumed in the forecast?

Answered: 1 week ago

Question

★★★★★
With end-of-month contributions of $251.33, a TFSA is expected to pass $100,000 in value after 15 years and 5 months. Determine the nominal and effective rates of return used in the projection.

Answered: 1 week ago

Previous Question Next Question