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Marigold's Snowshoes usually sells its snowshoes for $140 per unit and allows Marigold's to earn a 25% profit margin. It has recently come to Marigold's
Marigold's Snowshoes usually sells its snowshoes for $140 per unit and allows Marigold's to earn a 25% profit margin. It has recently come to Marigold's attention that the expected selling price has fallen to $76 per unit. Marigold's current inventory includes 85 units purchased at $108 per unit. Calculate the value of the inventory at the lower of cost and net realizable value. O $8208 O $9180 O $6460 O $8925 Question 8 OT 17 View Policies Current Attempt in Progress Bramble Company developed the following information about its inventories in applying the lower of cost and net realizable value in valuing inventories: Product Cost NRV A $ 69500 $74500 B 50000 48100 99200 102400 After Bramble Company values its inventory at the lower of cost or net realizable value, the value of the inventory reported on the balance sheet would be O $226900. O $218700. O $225000. O $216800. Current Attempt in Progress Concord filled up her vehicle using her debit card. The cost of the fill up was $36.00. Each time a customer uses a debit card Petro Canada is charged a transaction fee of $0.70. The entry to record the transaction by Petro Canada is O Cash 36.00 Sales 36.00 O Accounts Receivable 36.00 Sales 36.00 Cash 35.30 Debit Card Expense 0.70 Sales 36.00 Accounts Receivable 35.30 Credit Card Expense 0.70 Sales 36.00 Question 10 of 17
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