Question
Powder Ski Shop reports inventory using the lower of cost and net realizable value (NRV). Below is information related to its year-end inventory. Inventory Quantity
Powder Ski Shop reports inventory using the lower of cost and net realizable value (NRV). Below is information related to its year-end inventory.
| Inventory | Quantity | Unit Cost | Unit NRV |
|---|---|---|---|
| Ski jackets | 15 | $119 | $99 |
| Skis | 20 | 340 | 390 |
Calculate the total amount to be reported for ending inventory in the balance sheet.
|
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Managerial Accounting With Ready Notes
Authors: Ronald W. Hilton
1st Edition
0075619733, 978-0075619734
