Yang Company purchased 2,000 widgets and has 400 widgets in its ending inventory at a cost of
Question:
Yang Company purchased 2,000 widgets and has 400 widgets in its ending inventory at a cost of $90 each and a current replacement cost of $80 each. The net realizable value of each unit in the ending inventory is $70. The ending inventory under lower-of-cost-or-net realizable value is:
(a) $36,000.
(c) $28,000.
(b) $32,000.
(d) None of the above.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 100% (QA)
Answered By
Ashington Waweru
I am a lecturer, research writer and also a qualified financial analyst and accountant. I am qualified and articulate in many disciplines including English, Accounting, Finance, Quantitative spreadsheet analysis, Economics, and Statistics. I am an expert with sixteen years of experience in online industry-related work. I have a master's in business administration and a bachelor’s degree in education, accounting, and economics options.
I am a writer and proofreading expert with sixteen years of experience in online writing, proofreading, and text editing. I have vast knowledge and experience in writing techniques and styles such as APA, ASA, MLA, Chicago, Turabian, IEEE, and many others.
I am also an online blogger and research writer with sixteen years of writing and proofreading articles and reports. I have written many scripts and articles for blogs, and I also specialize in search engine
I have sixteen years of experience in Excel data entry, Excel data analysis, R-studio quantitative analysis, SPSS quantitative analysis, research writing, and proofreading articles and reports. I will deliver the highest quality online and offline Excel, R, SPSS, and other spreadsheet solutions within your operational deadlines. I have also compiled many original Excel quantitative and text spreadsheets which solve client’s problems in my research writing career.
I have extensive enterprise resource planning accounting, financial modeling, financial reporting, and company analysis: customer relationship management, enterprise resource planning, financial accounting projects, and corporate finance.
I am articulate in psychology, engineering, nursing, counseling, project management, accounting, finance, quantitative spreadsheet analysis, statistical and economic analysis, among many other industry fields and academic disciplines. I work to solve problems and provide accurate and credible solutions and research reports in all industries in the global economy.
I have taught and conducted masters and Ph.D. thesis research for specialists in Quantitative finance, Financial Accounting, Actuarial science, Macroeconomics, Microeconomics, Risk Management, Managerial Economics, Engineering Economics, Financial economics, Taxation and many other disciplines including water engineering, psychology, e-commerce, mechanical engineering, leadership and many others.
I have developed many courses on online websites like Teachable and Thinkific. I also developed an accounting reporting automation software project for Utafiti sacco located at ILRI Uthiru Kenya when I was working there in year 2001.
I am a mature, self-motivated worker who delivers high-quality, on-time reports which solve client’s problems accurately.
I have written many academic and professional industry research papers and tutored many clients from college to university undergraduate, master's and Ph.D. students, and corporate professionals. I anticipate your hiring me.
I know I will deliver the highest quality work you will find anywhere to award me your project work. Please note that I am looking for a long-term work relationship with you. I look forward to you delivering the best service to you.
3.00+
2+ Reviews
10+ Question Solved
Related Book For
Financial And Managerial Accounting
ISBN: 9781118004234
1st Edition
Authors: Donald E. Kieso, Paul D. Kimmel, Jerry J. Weygandt
Question Posted:
Students also viewed these Business questions
-
Identify risks while designing a pet grooming website Risks with their impact, probability, and risk score, and identify the impact to WBS and action plan.
-
The weaving of yarn to make fabric is done by using the looms. The looms used for weaving are {fill_regular) and {fill_regular}.
-
Prestopino Corporation produces motorcycle batteries. Prestopino turns out 1,500 batteries a day at a cost of $6 per battery for materials and labor. It takes the firm 22 days to convert raw...
-
On October 31, 2014, the balances on accounts appearing in the ledger of Aron interiors Company, a furniture wholesaler, are as follows: Accumulated Depr.-Building $142,000 Administrative Expenses...
-
Calculate Cost of Goods Sold for Ralph's Sporting Goods, a merchandising company, given the following information: Advertising expense...... $ 25,000 Purchases of merchandise............ 400,000...
-
A moving object that has inertia \(m\) strikes a stationary object that has inertia \(0.5 \mathrm{~m}\). (a) What fraction of the initial kinetic energy of the system is convertible? (b) Why can't...
-
Marine Supply manufactures flotation vests in Chattanooga, Tennessee. Marine Supply's contribution margin income statement for the most recent month contains the following data: Suppose Overton...
-
In the database you have built, you need to create a relationship between two fields in two tables. Field 1 in Table A has the Number Data Type and Field 1 in Table B has the Currency Data Type. Will...
-
Specific identification: (a) must be used under IFRS if the inventory items are not interchangeable. (b) cannot be used under IFRS. (c) cannot be used under GAAP. (d) must be used under IFRS if it...
-
Gerald D. Englehart Company has the following inventory, purchases, and sales data for the month of March. The physical inventory count on March 31 shows 500 units on hand. Instructions Under a...
-
What is zero-based budgeting.
-
13. What is a lower bound for the price of 3-month call option on a non- dividend-paying stock when the stock price is $50, the strike price is $45, and the 3-month risk-free interest rate is 8%?...
-
Should Bitcoin and other cryptocurrency be regulated and if yes in what ways can they be regulated ?
-
these regressions were run in Excel using the return on the SPY as a measure of the S&P500 return in 2012 (you can replicate the results using the regression feature in Excel if you want, but you...
-
Calculate an estimate of the price change for a 3 year bond with a Modified duration of 1.898 years, assuming the bonds yield to maturity goes from 10 percent to 9.5 percent. If the bond's yield to...
-
Find the equation in rectangular coordinates for the surface represented by the spherical equation, sketch graph. p=6(sino) (cost)
-
Multiple Choice Question 1. Mark, a newspaper editor, walks into the newsroom and announces to a group of five reporters: Ill pay a $2,000 bonus to the first reporter who finds definitive evidence...
-
If the cylinder described in Problem 21.3 were initially heated to 500F, how long would it take for the center of the cylinder to cool to 240F if it were constructed of a. Copper? b. Brass? c. Nickel?
-
OccuLogix Inc., is a health care company that specializes in developing diagnostic devices for eye disease. OccuLogix reported the following data (in thousands) for the years ending December 31,...
-
What is the difference between horizontal and vertical analysis of financial statements?
-
What is the difference between horizontal and vertical analysis of financial statements?
-
Assume Michael uses the production method to account for scrap. Further, Michael finds several pieces of scrap that can be used in other projects. He estimates the reusable scrap quantity to be 15...
-
What are the 2 breaches that are punishable by 2000 penalty units in this Section?
-
Please write a report that examines the following questions: 1. What goals is the use of Nyango Star trying to achieve? 2. Why is this goal trying to be achieved? 3. What accounts, accounting, and...
Study smarter with the SolutionInn App