Question
The Jewel Fool had the following inventory items on hand at the end of the year. Quantity Cost per Item Value per Item Necklaces 10
The Jewel Fool had the following inventory items on hand at the end of the year.
| Quantity | Cost per Item | Value per Item | |
|---|---|---|---|
| Necklaces | 10 | $ 67 | $ 72 |
| Bracelets | 50 | 57 | 37 |
Determine the lower of cost or market/net realizable value per unit and the total amount that should be reported on the balance sheet for each item of inventory.
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Cost Management Measuring Monitoring And Motivating Performance
Authors: Leslie G. Eldenburg, Susan Wolcott
1st Edition
0471205494, 978-0471205494
