pice al s160 each. Expected alloh models. The cameras these cameras are in used condition, Viking has the camera (on order) will cost Viking $200 and will be priced to sell at $320. tory Costing Methods-Periodic Method The following information is for the Bloom L02 selling costs are $10 per camera. New models of ny: the company sells just one product: Units Unit Cost Beginning inventory Purchases: Feb. 11 $10 May 18 October 23 16 20 100 there was an ending inventory of 340 units. Assume the use of the periodic inventory met ate the value of ending inventory and the cost of goods sold for the year using (a) first-in, f D lad in finst-out, and ce the weighed-average cost mehod Inventory Costing Methods-Periodic Method The following data are for the Bloom Company, LO2 which sells just one product: Units Unit Cost Beginning inventory, January 1 Purchases: February 11 $10 May 18 October 23 March 1 July 1 400 100 400 16 Calculate the value of ending inventory and cost of goods sold using the periodic method and (a) first in, first-out, (b) last-in, first-out, and (c) weighted-average cost method. Round your final answers to the nearest dollar E-9A Applying IFRS LVMH is a Paris-based manufacturer of luxury goods that prepares its financial L04,5 statements using IFRS. During the year, the management of the company undertook a review of the fair value of its inventory and found that the inventory had appreciated above its book value IFR of 12 million euros. According to the company's management, the inventory was underval- aed by 2 million euros. Prepare the journal entry to revalue the company's inventory. How would the revaluation immediately affect the company's (a) current ratio, (b) inventory turnover, and (c) days' sales in inventory? B-10A. Lower-of-Cost-or-Market (L.CM) Method The following data are taken from the Browning Corpo LO4 ration's inventory accounts: Quantity Unit Cost Replacement Cost tem Code 100 300 $27 200 $24 31 18 ACE late the value of the company's ending inventory using the lower-of-cost-or-market method ap- entory Turnover and Days' Sales in Inventory The Southern Company installed a new inven- LOs ting records as reported out by the new system: plied to each item of inventory 611A oy management system at the beginning of 2015. Shown below are data from the company's ac