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The following information is taken from Aden Company's records: Product Group Unit Cost/Unit Market/Unit A 1 600 1.00 .80 B 1 250 1.50 1.55 C
The following information is taken from Aden Company's records:
Product | Group | Unit | Cost/Unit | Market/Unit |
A | 1 | 600 | 1.00 | .80 |
B | 1 | 250 | 1.50 | 1.55 |
C | 2 | 200 | 4.90 | 5.15 |
D | 2 | 100 | 6.50 | 6.40 |
E | 3 | 80 | 25.00 | 24.60 |
Required:
What is the correct inventory value if the company applies the LCNRV rule to each of the following?
a. Individual items
Product A | |
Product B | |
Product C | |
Product D | |
Product E | |
Total Inventory Value |
b. Groups of Items
Group 1 | |
Group 2 | |
Group 3 | |
Total Inventory Value |
c. The Inventory as a Whole
Total inventory value =
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