Question
Presented below is selected information related to Garcia Electronics inventory. (per unit) HDTV-50 HDTV-42 TV Stand Historical cost $420 $300 $60 Selling price 539 329
Presented below is selected information related to Garcia Electronics inventory.
| (per unit) | HDTV-50" | HDTV-42" | TV Stand | ||||||
|---|---|---|---|---|---|---|---|---|---|
| Historical cost | $420 | $300 | $60 | ||||||
| Selling price | 539 | 329 | 79 | ||||||
| Cost to sell | 31 | 15 | 2.25 | ||||||
| Cost to complete | 52 | 24 | 6.5 | ||||||
Determine the following: (a) the net realizable value for each item, and (b) the carrying value of each item under LCNRV.
| (a) NRV | (b) LCNRV | |||
|---|---|---|---|---|
| HDTV-50" | $enter a dollar amount | $enter a dollar amount | ||
| HDTV-42" | enter a dollar amount | enter a dollar amount | ||
| TV Stand | enter a dollar amount | enter a dollar amount |
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Financial Accounting The Impact On Decision Makers
Authors: Gary A. Porter, Curtis L. Norton
6th Edition
0324655231, 978-0324655230
