Sandals Company is preparing the annual financial statements dated December 31. Ending inventory is presently recorded at its total cost of $10,550. Information about its inventory items follows: Quantity on Hand 70 65 Unit Cost When Acquired (FIFO) $ 45 40 100 Value at Year-End $50 Product Line Air Flow Blister Buster Coolonite Dudesly points 33 93 43 40 eBook Required: Print 1. Compute the LCM/NRV write-down per unit and in total for each item in the table. Also compute the total overall write-down for all items. 2. How will the write-down of inventory to lower of cost or marketet realizable value affect the company's expenses reported for the year ended December 31? 3. Compute the amount that should be reported for the inventory on December 31, after the LCM/NRV rule has been applied to each item. References Complete this question by entering your answers in the tabs below. Required i Required 2 Required 3 Compute the LCM/NRV write-down per unit and in total for each item in the table. Also coi for all items. Product Line Quantity on Write-down Hand per item Total Write- down Air Flow Blister Buster Coolonite Dudesly Total 10 Required 1 Required 2 > Sandals Company is preparing the annual financial statements dated December 31. Ending inventory is presently recorded at its total cost of $10,550. Information about its inventory items follows: Quantity on Hand 70 Unit Cost When Acquired (FIFO) $ 45 40 100 40 Product Line Air Flow Blister Buster Coolonite Dudesly Value at Year-End $50 33 points 10 93 95 43 eBook Required: Print 1. Compute the LCM/NRV write-down per unit and in total for each item in the table. Also compute the total overall write-down for all items. 2. How will the write-down of inventory to lower of cost or marketet realizable value affect the company's expenses reported for the year ended December 31? 3. Compute the amount that should be reported for the inventory on December 31, after the LCM/NRV rule has been applied to each item. References Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 How will the write-down of inventory to lower of cost or marketet realizable value affect for the year ended December 31? Cost of goods sold will be by Sandals Company is preparing the annual financial statements dated December 31. Ending inventory is presently recorded at its total cost of $10,550. Information about its inventory items follows: Quantity on Hand 70 Unit Cost When Acquired (FIFO) $ 45 Value at Year-End $50 points Product Line Air Flow Blister Buster Coolonite Dudesly 40 33 100 40 95 eBook Required: Print 1. Compute the LCM/NRV write-down per unit and in total for each item in the table. Also compute the total overall write-down for all items. 2. How will the write-down of inventory to lower of cost or marketet realizable value affect the company's expenses reported for the year ended December 31? 3. Compute the amount that should be reported for the inventory on December 31, after the LCM/NRV rule has been applied to each item. References Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Compute the amount that should be reported for the inventory on December 31, after the each item. Written-down inventory Required 2 Required 3
