Question
Sahara Company uses the LIFO inventory method and has inventory with the following characteristics: Selling price $165 Packaging cost 10 Transportation cost 15 Normal profit
Sahara Company uses the LIFO inventory method and has inventory with the following characteristics: Selling price $165 Packaging cost 10 Transportation cost 15 Normal profit margin 40 Please compute the constraints on the market value ? If the current replacement cost -Market value is $95 , what market value you should choose ? Then if the cost is $100, then under the Lower of Cost or Market, what will be the value you will choose for the inventory?
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College Accounting Chapters 1-30
Authors: John Price, M. David Haddock, Michael Farina
14th edition
978-1259284861, 1259284867, 77862392, 978-0077862398
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