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pls solve and explain pls Inventory Write-Down The following information is taken from Aden Company's records: Product Group Units Cost/Unit Market/Unit A 1 600 $1.00
pls solve and explain pls
Inventory Write-Down
The following information is taken from Aden Company's records:
Product | Group | Units | Cost/Unit | Market/Unit |
---|---|---|---|---|
A | 1 | 600 | $1.00 | $0.80 |
B | 1 | 250 | 1.50 | 1.55 |
C | 2 | 200 | 4.90 | 5.15 |
D | 2 | 100 | 6.50 | 6.40 |
E | 3 | 80 | 25.00 | 24.60 |
Required:
What is the correct inventory value if the company applies the LCNRV rule to each of the following?
- Individual items
Product A $fill in the blank 1 Product B fill in the blank 2 Product C fill in the blank 3 Product D fill in the blank 4 Product E fill in the blank 5 Total inventory value $fill in the blank 6 - Groups of items
Group 1 $ fill in the blank 7 Group 2 fill in the blank 8 Group 3 fill in the blank 9 Total inventory value $ fill in the blank 10 - The inventory as a whole
Total inventory value $ fill in the blank 11
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