Question
The inventory ofMarigoldCompany on December 31, 2020, consists of the following items. aPart No. 121 is obsolete and has a realizable value of $1.00each as
The inventory ofMarigoldCompany on December 31, 2020, consists of the following items.
aPart No. 121 is obsolete and has a realizable value of $1.00each as scrap.
(a)Determine the inventory as of December 31, 2020, by the LCNRV method, applying this method to each item.
enter the Inventory as of December 31 in dollars
(b)Determine the inventory by the LCNRV method, applying the method to the total of the inventory.
enter the Inventory as of December 31 in dollars
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Fraud Data Analytics Methodology
Authors: Leonard W Vona
1st Edition
111918679X, 9781119186793
