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Sarasota Corporation has the following four items in its ending inventory: Item Cost Estimated Selling Price Estimated Disposal Costs Neutrinos $ 1,810 $ 2,090 $
Sarasota Corporation has the following four items in its ending inventory:
Item | Cost | Estimated Selling Price | Estimated Disposal Costs | ||||||
---|---|---|---|---|---|---|---|---|---|
Neutrinos | $ | 1,810 | $2,090 | $99 | |||||
Ocillinos | 5,060 | 4,960 | 109 | ||||||
Electrons | 4,330 | 4,665 | 213 | ||||||
Protons | 3,470 | 4,480 | 98 |
(a)
Assume that Sarasota is a public company using IFRS. Determine the total value of ending inventory, using the lower of cost and net realizable value model applied on an individual item basis.
Item | LC and NRV | |
---|---|---|
Neutrinos | $enter a dollar amount | |
Ocillinos | $enter a dollar amount | |
Electrons | $enter a dollar amount | |
Protons | $enter a dollar amount | |
Total | $enter a total amount |
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