Question
Presented below is information related to Rembrandt Inc.s inventory. (per unit) Skis Boots Parkas Historical cost $190.00 $106.00 $53.00 Selling price 212.00 145.00 73.75 Cost
Presented below is information related to Rembrandt Inc.s inventory.
| (per unit) | Skis | Boots | Parkas | |||
| Historical cost | $190.00 | $106.00 | $53.00 | |||
| Selling price | 212.00 | 145.00 | 73.75 | |||
| Cost to sell | 19.00 | 8.00 | 2.50 | |||
| Cost to complete | 32.00 | 29.00 | 21.25 |
Determine the following: the net realizable value for each item, and the carrying value of each item under LCNRV.
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Accounting And Finance For Non Specialists
Authors: Eddie McLaney, Peter Atrill
2nd Edition
0135717469, 9780135717462
