Using the facts in BE10-15, assume that Count Clothing has 2,000 units of its Stain Resistant model

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Using the facts in BE10-15, assume that Count Clothing has 2,000 units of its Stain Resistant model in stock a year later when the net realizable value has increased to $230. What is title reversal of the inventory write-down, if any? Assume the company uses FIFO.

Data from BE10-15

Count Clothing Company manufactures two types of raincoats-Regular and Stain Resistant. Information related to both products is presented in the following table.

Current Normal Profit Group Replacement Cost Selling Pice Disposal Costs Margin Cost Regu ar $120 $190 $20 $70 $118 Stain Resistant 230 250 26 45 240



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Related Book For  answer-question

Intermediate Accounting

ISBN: 978-0134730370

2nd edition

Authors: Elizabeth A. Gordon, Jana S. Raedy, Alexander J. Sannella

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