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

Question

1 Approved Answer

Marigold Corn sells three different categories of tools small, medium and larges. The cost and net realizable value of its iwertory of tools are as

image text in transcribed
Marigold Corn sells three different categories of tools small, medium and larges. The cost and net realizable value of its iwertory of tools are as follows Net Reliable Value Cost Small 563.800 5.60.900 260.800 Medium 291.000 Lange 153.000 172400 Determine the value of the company's inventory under the lower-of-cost-ornetreble value oprosch Total Inventory value S

Step by Step Solution

There are 3 Steps involved in it

Step: 1

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

Applications Of Accounting Information Systems

Applications Of Accounting Information Systems

Authors: David M. Shapiro

1st Edition

194999158X, 9781949991581

More Books

Students also viewed these Accounting questions

Question

★★★★★
A three-way lightbulb can produce 50 W, 100 W, or 150 W, at 120 V. Such a bulb contains two filaments what can be connected to the 120V individually or in parallel. (a) Describe how the connections...

Answered: 1 week ago

Question

★★★★★
51. LO.5 Norm is married to a nonemployed spouse and has four dependents. He is employed by Beige Corporation and is paid a monthly salary of $4,245 ($50,940 per year). Using these facts, determine...

Answered: 1 week ago

Question

★★★★★
Examine the three dotplots generated by MINITAB shown in Figure 1.12. Describe these distributions in terms of their locations and shapes. FIGURE 1.12 Shapes of data distribu- tions for Example 1.11...

Answered: 1 week ago

Question

★★★★★
The following balances were taken from the books of Schimank Corp. on December 31, 2014. Assume the total effective tax rate on all items is 34%. Instructions Prepare a multiple-step income...

Answered: 1 week ago

Question

★★★★★
explain the differences between fine art prints and reproductions using images of specific examples of each in your response. Gi ve your opinions on the benefits of each of these types of works after...

Answered: 1 week ago

Question

★★★★★
Required information The Foundational 15 (Algo) [LO14-2, LO14-3, LO14-4, LO14-5, LO14-6] [The following information applies to the questions displayed below.] Markus Company's common stock sold for...

Answered: 1 week ago

Question

★★★★★
SWOT Analysis for Health Information Management Department at the Charity hospital

Answered: 1 week ago

Question

★★★★★
Required information Exercise 2-23 (Algo) Analyzing a trial balance error LO P1 [The following information applies to the questions displayed below.] You are told the column totals in a trial balance...

Answered: 1 week ago

Question

★★★★★
Irvin Dempski owns and operates Adventure Travel Agency. The assets and liabilities of Adventure Travel Agency on December 31, 20Y5, and its revenue and expenses for the year are as follows: Accounts...

Answered: 1 week ago

Question

★★★★★
Pants (per day) 4 W Miyah's PPF N 1 Derek's PPF 2 3 4 5 6 Shirts (per day) The graph shows Miyah and Derek's Production Possibilities Curve. (a) What is Miyah's opportunity cost of producing a shirt?...

Answered: 1 week ago

Question

★★★★★
The parking brake fails on a 1800kg truck, causing it to roll downhill. At the bottom of the hill, it crashes into a parked car at 3 m/s. The truck comes to a stop in just 0.2 s. What force did the...

Answered: 1 week ago

Question

★★★★★
Henry, a resident of Nevada, sued Adam, a resident of Utah in the Federal Court in California. He sought $60,000 damages for personal injuries arising from an automobile accident that occurred in Los...

Answered: 1 week ago

Question

★★★★★
The role of a supervisor is to a Tell you exactly how to get a distinction or first-class mark. b Read drafts of every chapter. c Organise your time between now and the submission date. d Provide...

Answered: 1 week ago

Question

★★★★★
What type of publication is CIPD (2019) Rotten Apples, Bad Barrels and Sticky Situations: An evidence review of unethical workplace behaviour? a Professional journal. b Practitioner report. c Green...

Answered: 1 week ago

Question

★★★★★
Over what timescale should the project be undertaken?

Answered: 1 week ago

Previous Question Next Question