The accountant for Davidson, Inc. prepared the following analysis of its inventory at year end: Item Units Cost per Unit Net Realizable Value RSK-89013
The accountant for Davidson, Inc. prepared the following analysis of its inventory at year end: Item Units Cost per Unit Net Realizable Value RSK-89013 520 $38 $44 LKW-91247 329 49 45 QEC-57429 462 25 33 kequired: 1. Compute the carrying value of the ending inventory using the lower of cost or net realizable value rule applied on an item-by-item basis. 2. Prepare the journal entry required to value the inventory at lower of cost or net realizable value. If an amount box does not require an entry, leave it blank.
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A E 1 1 2 Item Units LCM Total amount 3 RSK 89013 520 38 19760 4 LKW ...
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Authors: Rich, Jeff Jones, Dan Heitger, Maryanne Mowen, Don Hansen
2nd edition
978-0538473484, 538473487, 978-1111879044
