FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Practice, Question 11 D & B Sounds Inc. has accumulated the following cost and net realizable value (NRV) data on March 31: Cost NRV Data

image text in transcribed

Practice, Question 11 D & B Sounds Inc. has accumulated the following cost and net realizable value (NRV) data on March 31: Cost NRV Data S 48,000 36,000 56,000 S140.000 Data S 40,800 38,000 51,200 S130.000 Stereos Radios DVDs Using the lower of cost and NRV, calculate the LCNRV of the ending inventory. $140,000 $128,000 $120,000 $130,000

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

External Auditing And Quality Accounting Finance Sustainability Governance And Fraud Theory And Application

External Auditing And Quality Accounting Finance Sustainability Governance And Fraud Theory And Application

Authors: Iffet Kesimli

1st Edition

9811305250, 978-9811305252

More Books

Students also viewed these Accounting questions

Question

★★★★★
During the year, Summit produces 40,000 snow shovels and sells 37,000 snow shovels. Required What is the value of ending inventory using full costing?

Answered: 1 week ago

Question

★★★★★
Imagine that you would like to examine gender comparisons in leadership ability. Describe at least four biases that might influence your research.

Answered: 1 week ago

Question

★★★★★
Yummy Candy Company is considering purchasing a second chocolate dipping machine in order to expand their business. The information Yummy has accumulated regarding the new machine is: Cost of the...

Answered: 1 week ago

Question

★★★★★
XOR of Sums Coding ( 6 ) UNSOLVED Problem Statement Ravi is playing a game in which he needs to convert an array into an integer. This task seems to be impossible, but Ravi has an - algorithm to...

Answered: 1 week ago

Question

★★★★★
Which of the following is part of the OS security configuration? A . Enabling the most secure OS platform B . Giving all users administrator privileges C . Disabling default passwords and unnecessary...

Answered: 1 week ago

Question

★★★★★
15} A logging contractor has three feller bunchers. On any given day, each machine has a 90% chance of working. The contractor is considering buying a fourth feller buncher to offset the possibility...

Answered: 1 week ago

Question

★★★★★
Company XYZ, a mason contractor, received a government contract amounting to $400,00.00 from Mercy City's Department of General Services for the purpose of "pointing" the joints of the stone exterior...

Answered: 1 week ago

Question

★★★★★
QB1 (a) A motor gives gear A a clockwise angular velocity of @A rad/s and an anti- clockwise angular acceleration a rad/s, as shown in figure QB1. If the angular velocity of gear B is @B = 3 rad/s...

Answered: 1 week ago

Question

★★★★★
Question 1. This question basically asks you to compare the Net Present Value (NPV) to the Internal Rate of return (IRR) on the time length of an investment project.. a. Draw a "growth curve" for a...

Answered: 1 week ago

Question

★★★★★
Mary Tam is a civil engineer who was assigned a month ago to work with a team that builds roads and bridges across Canada. After a couple of weeks, Mary went to the head of HR to report that her...

Answered: 1 week ago

Question

★★★★★
National government. This applies particularly to the legislative framework under which firms operate in such countries as Czech Republic, including company, employment and social legislation that...

Answered: 1 week ago

Question

★★★★★
2 The transfer of management knowledge from the German to the Czech operations may be problematic not only because of the power position of the German partner, but also the hunger for Western...

Answered: 1 week ago

Question

★★★★★
4 How can the development of a learning organization help in the success of the joint venture, and what form should this take?

Answered: 1 week ago

Previous Question Next Question