A company has three types of products: gadgets, widgets, and gizmos. The cost and market price...
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A company has three types of products: gadgets, widgets, and gizmos. The cost and market price of each type is listed below. Complete the table by applying the lower of cost and net realizable value (LCNRV). Do not enter dollar signs or commas in the input boxes Description Category Gadget Type 1 Gadgets Gadget Type 2 Gadgets Total Gadgets Widget A Widget B Total Widgets Gizmo 1 Gizmo 2 Gizmo 3 Total Gizmos Grand Total Widgets Widgets Gizmos Gizmos Gizmos S S Cost $1,140 $5,400 $140 $100 $2.370 $1,820 $2,130 S $ NRV $950 $ $4,600 S $110 S $100 $ $1,960 $ $2,130 $ $1,580 5 LCNRV Applied to... Individual S Category A company has three types of products: gadgets, widgets, and gizmos. The cost and market price of each type is listed below. Complete the table by applying the lower of cost and net realizable value (LCNRV). Do not enter dollar signs or commas in the input boxes Description Category Gadget Type 1 Gadgets Gadget Type 2 Gadgets Total Gadgets Widget A Widget B Total Widgets Gizmo 1 Gizmo 2 Gizmo 3 Total Gizmos Grand Total Widgets Widgets Gizmos Gizmos Gizmos S S Cost $1,140 $5,400 $140 $100 $2.370 $1,820 $2,130 S $ NRV $950 $ $4,600 S $110 S $100 $ $1,960 $ $2,130 $ $1,580 5 LCNRV Applied to... Individual S Category
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LCNRV analysis Description Gadgets type 1 Gadgets type2 Total gadgets Widget A Widg... View the full answer
Related Book For
Intermediate Accounting
ISBN: 978-0324300987
10th Edition
Authors: Loren A Nikolai, D. Bazley and Jefferson P. Jones
Posted Date:
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