Guo Hardware sells three different categories of tools (small, medium, and large). The cost and net realizable
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Guo Hardware sells three different categories of tools (small, medium, and large). The cost and net realizable value of its inventory of tools are as follows.
Determine the value of the company’s inventory under the lower-of-cost-or-net realizable value approach.
Transcribed Image Text:
Cost Net Realizable Value HK$ 640,000 2,900,000 Small HK$ 730,000 Medium 2,600,000 Large 1,520,000 1,485,000
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Related Book For
Accounting Principles
ISBN: 978-1119419617
IFRS global edition
Authors: Paul D Kimmel, Donald E Kieso Jerry J Weygandt
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