The inventory of Oheto Company on December 31, 2017, consists of the following items. Part Quantity Cost
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Question:
The inventory of Oheto Company on December 31, 2017, consists of the following items.
Part | Quantity | Cost per Unit | Net Realizable Value | |
110 | 600 | $95 | $100 | |
111 | 1,000 | 60 | 52 | |
112 | 500 | 80 | 76 | |
113 | 200 | 170 | 180 | |
120 | 400 | 205 | 208 | |
121 | a | 1,600 | 16 | 1 |
122 | 300 | 240 | 235 |
aPart No. 121 is obsolete and has a realizable value of $1each as scrap.
Related Book For
Intermediate Accounting IFRS
ISBN: 978-1119372936
3rd edition
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield
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