The inventory of Oheto Company on December 31, 2015, consists of the following items. Instructions (a) Determine

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The inventory of Oheto Company on December 31, 2015, consists of the following items.

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Instructions

(a) Determine the inventory as of December 31, 2015, by the LCNRV method, applying this method to each item.

(b) Determine the inventory by the LCNRV method, applying the method to the total of the inventory

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Intermediate Accounting IFRS Edition

ISBN: 9781118443965

2nd Edition

Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield

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Question Posted: Mar 17, 2024 02:00 PM

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The inventory of Oheto Company on December 31, 2015, consists of the following items. Instructions (a) Determine

Question:

Part No. Quantity Cost per Unit Net Realizable Value per Unit 110 600 $ 95 $100 111 1,000 60 52 112 500 80 76 113 200 170 180 120 400 205 208 121 1,600 16 1 122 300 240 235

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Intermediate Accounting IFRS Edition

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