The inventory of Oheto Company on December 31, 2020, consists of the following items. Instructions a. Determine

Question:

The inventory of Oheto Company on December 31, 2020, consists of the following items.

Instructions

a. Determine the inventory as of December 31, 2020, 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

ISBN: 978-1119503668

17th edition

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

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Question Posted: Nov 26, 2019 06:36 AM

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The inventory of Oheto Company on December 31, 2020, consists of the following items. Instructions a. Determine

Question:

Cost per Unit $ 95 60 80 170 Net Realizable Value Quantity 600 Part 110 $100 52 111 112 1,000 500 200 76 113 180 208 120 121* 122 205 16 240 400 1,600 300 235

Step by Step Answer:

a 335100 b 341300 Part No 110 111 112 113 120 121 122 Totals Quantity ...View the full answer

Intermediate Accounting

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