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Peterson Furniture Designs is preparing its annual financial statements dated December 31. Ending inventory information about the five major items stocked for regular sale
Peterson Furniture Designs is preparing its annual financial statements dated December 31. Ending inventory information about the five major items stocked for regular sale follows: Required: 1-a. Complete the final two columns of the table. Item Quantity on Hand Ending Inventory Unit Cost When Acquired (FIFO) Net Realizable LC&NRV Total Value at per Item LC&NRV Year-End Alligator Armoires Bear Bureaus 53 $ 18 $ 15 78 43 43 Cougar Beds 13 53 55 Dingo Cribs 33 33 33 Elephant Dressers 415 13 9
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