KK Company used the lower of cost or net realizable value method to measure inventory. Data...
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KK Company used the lower of cost or net realizable value method to measure inventory. Data regarding the items in work in process inventory are as follows: Historical cost Selling price Estimated cost to complete Replacement cost Normal profit margin as a percentage of selling price Markers 240,000 360,000 48,000 208,000 25% Pens Highlighters 188,000 250,000 50,000 168,000 25% What is the measurement of the work in process inventory? 300,000 360,000 68,000 318,000 10% KK Company used the lower of cost or net realizable value method to measure inventory. Data regarding the items in work in process inventory are as follows: Historical cost Selling price Estimated cost to complete Replacement cost Normal profit margin as a percentage of selling price Markers 240,000 360,000 48,000 208,000 25% Pens Highlighters 188,000 250,000 50,000 168,000 25% What is the measurement of the work in process inventory? 300,000 360,000 68,000 318,000 10%
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Related Book For
College Accounting Chapters 1-30
ISBN: 978-1259631115
15th edition
Authors: John Price, M. David Haddock, Michael Farina
Posted Date:
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