FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The Company uses the lower-of-cost-or-market approach. The replacement cost of an inventory item is $75.00. Net realizable value is $84.74. Net realizable value less a

image text in transcribed
The Company uses the lower-of-cost-or-market approach. The replacement cost of an inventory item is $75.00. Net realizable value is $84.74. Net realizable value less a normal profit margin is $67.00. The cost of the item is $76.50. The inventory item would be valued at: $76.50.$84.74.$67.00.$75.00

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Treasury Financial Manual Volume II III And IV

Treasury Financial Manual Volume II III And IV

Authors: US Treasury

1st Edition

1790321824, 978-1790321827

More Books

Students also viewed these Accounting questions

Question

★★★★★
The temperature control unit on a commercial freezer in a 24-hour grocery store is set to maintain a mean temperature of 23 degrees Fahrenheit. The temperature varies because people are constantly...

Answered: 1 week ago

Question

★★★★★
Consider a one-period market, with ={1,2,3}, interest rate r=101, and one risky asset S1={S1(t)}t=0,1 with prices given by S1(0)=555,S1(1)=5335221033 a (weight 10p) Find all risk neutral measures in...

Answered: 1 week ago

Question

★★★★★
=+a. What proportion of stress ranges are at least 2 MPa? At most 7 MPa? Between 5 and 10 MPa?

Answered: 1 week ago

Question

★★★★★
Walter Campbell was a very giving person all of his life. His surviving children speak frequently of his generosity not only toward his deceased wife but also too many beyond his immediate family....

Answered: 1 week ago

Question

★★★★★
The Company uses the lower-of-cost-or-market approach. The replacement cost of an inventory item is $75.00. Net realizable value is $84.74. Net realizable value less a normal profit margin is $67.00....

Answered: 1 week ago

Question

★★★★★
The time-weighted rate of return for a fund with the transactions shown in the following table is 12%. What is the dollar-weighted rate of return? date withdrawals 1/1/2015 value before transaction...

Answered: 1 week ago

Question

★★★★★
[The following information applies to the questions displayed below.] XYZ is a calendar-year corporation that began business on January 1, 2023. For the year, it reported the following information in...

Answered: 1 week ago

Question

★★★★★
a) Show that = 0 n 1 b) Show that = (i.e., mean of predicted values is equal to sample mean of Yi ) n c) Show that TSS = ESS+RSS

Answered: 1 week ago

Question

★★★★★
1.Hanker Company had the following department data on physical units: Work in Process, beginning1,000 Completed and transferred out4,000 Work in Process, ending800 Materials are added at the...

Answered: 1 week ago

Question

★★★★★
Apply different yield (revenue) management techniques to a variety of scenarios in hotel industry.

Answered: 1 week ago

Question

★★★★★
Polinezo Industries' balance sheet reflects an equity of $650 million, the stock price is $90 per share, and its aggregate market value (MVA) is $60 million. Determine the common stock outstanding.

Answered: 1 week ago

Question

★★★★★
2. Take a look at the outline of this chapter in the Contents (p. xxix). Do you see a clear hierarchy of points and subpoints? Within the chapter, how are transitions used to move from point to...

Answered: 1 week ago

Question

★★★★★
4. Choose appropriate and powerful language

Answered: 1 week ago

Question

★★★★★
2. Choose an appropriate organizational pattern for your speech

Answered: 1 week ago

Previous Question Next Question