Question
Whispering Winds Corporation has the following four items in its ending inventory: Item Cost Estimated Selling Price Estimated Disposal Costs Neutrinos $ 1,800 $2,080 $90
Whispering Winds Corporation has the following four items in its ending inventory:
| Item | Cost | Estimated Selling Price | Estimated Disposal Costs | ||||||
|---|---|---|---|---|---|---|---|---|---|
| Neutrinos | $ | 1,800 | $2,080 | $90 | |||||
| Ocillinos | 4,900 | 4,800 | 90 | ||||||
| Electrons | 4,200 | 4,535 | 190 | ||||||
| Protons | 3,300 | 4,310 | 90 | ||||||
Partially correct answer iconYour answer is partially correct.
Assume that Whispering Winds is a public company using IFRS. Determine the total value of ending inventory, using the lower of cost and net realizable value model applied on an individual item basis.
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Workbook/Study Guide To Accompany Managerial Accounting
Authors: Ray H Garrison, Eric Noreen, Peter C. Brewer
11th Edition
0072986131, 978-0072986136
