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eBook Show Me How Calculator Lower-of-Cost-or-Market Inventory On the basis of the following data: Inventory Quantity Cost per Unit Market Value per Unit (Net Realizable Value) Product Model A $244 Model B Model C Model D Model E Determine the value of the inventory at the lower of cost or market. Assemble the data in the form illustrated in Exhibit 9. Inventory at the Lower of Cost or Market Product Total Cost Total Market Lower of Total Cost or Total Market Total eBook Show Me How Calculator Perpetual Inventory Using UFO Beginning inventory, purchases, and sales data for DVD players are as follows: November 1 76 units at $92 Inventory Sale 10 58 units 15 Purchase 20 Sale 99 units at $96 57 units 15 units 32 units at $101 24 Sale 30 Purchase The business maintains a perpetual inventory system, costing by the last in, first-out method. Determine the cost of merchandise sold for each sale and the inventory balance after each sale, presenting the data in the formalustrated in Exhibit 4 Under LIFO, If units are in inventory at two different costs, enter the units with the HIGHER unit cost first in the cost of Goods Sold Unit Cost column and LOWER unit cost first in the Inventory Unit Cost column Schedule of Cost of Goods Sold LIFO Method DVD Players Quantity Purchases Unt Purchases Total Cost of Goods Sold Unit Cost of Good Sold Total inventory Purchased sold Nov. 1 O ewentury , inventory at two different counts, enter the units with the Cast com HR unit confirst in the cost of Goods Sold Unit Costcolume and LOWER Schedule of Cost of Goods Sold UFO Method DVD Powers Cost of Goods Soldnt Cost of Goods Sold Total Co Quantity Purchard Inventory Quantity sila la la I: A IR Balances Checy Works more Check My Worses remaining eBook Show Me How Calculator Providing for Doubtful Accounts At the end of the current year, the accounts receivable account has a debit balance of $1,206,000 and sales for the year total $13,680,000. a. The allowance account before adjustment has a debit balance of $16,300. Bad debt expense is estimated at 3/4 of 1% of sales b. The allowance account before adjustment has a debit balance of $16,300. An aging of the accounts in the customer ledger indicates estimated doubtful accounts of $52,200. c. The allowance account before adjustment has a credit balance of $7,500. Bad debt expense is estimated at 1/4 of 1% of sales. d. The allowance account before adjustment has a credit balance of $7,500. An aging of the accounts in the customer ledger indicates estimated doubtful accounts of $62,300. Determine the amount of the adjusting entry to provide for doubtful accounts under each of the assumptions (a through d) listed above. a $ 34,200 b. 35,900 X Aging of Receivables Schedule The accounts receivable clerk for Evers Industries prepared the following partially completed aging of receivables schedule as of the end of bei November 30: Not Days Past Due Past Over Customer Balance Due 1-30 31-60 61-90 Acme Industries Inc. 4.400 4,400 Alliance Company 5,100 5,100 25,700 Zollinger Company 9,000 9,000 Subtotals 857,200 517,700 188,600 82,300 42,900 The following accounts were unintentionally omitted from the aging schedule and not included in the subtotals above: Customer Balance Due Date Boyd Industries $12,000 July 9 Hodges Company September 20 Kent Creek Inc 17,100 October 16 Lockwood Company 10,300 November 5 23,100 December 21 Van Epps Company a. Determine the number of days past due for each of the preceding accounts as of November 30. If an account is not past due, entro Calculator Customer Due Date July 9 Number of Days Past Due Boyd Industries Hodges Company Kent Creek Inc. September 20 days days October 16 November 5 Lockwood Company Van Epps Company days December 21 days b. Complete the aging-of-receivables schedule by adding the omitted accounts to the bottom of the schedule and updating the totals. If an amount box not require an entry, leave it blank. Evers Industries Aging of Receivables Schedule November 30 Days Past Due 1-30 Days Past Due 31-60 Days Past Due 61-90 Days Past Due One Not Past Due $4,400 5,100 9,000 Customer Balance Acme Industries Inc. $4,400 Alliance Company 5,100 Zollinger Company 9,000 Subtotals 857,200 Boyd Industries Hodges Company Kent Creek Inc. 82,300 188,600 517,700 BUU Previous Check My Work 5 more Check My Work uses remaining