Budent Name:

Class:

Problem $06-20$A

Given Data P$05-20$A: Student Name:

Class:

Problem $05-21$A

RANDY'S PARTS CO$.$

Computations

$\backslash$begin$\{$tabular$\}\{|$c$|$c$|$c$|$c$|$c$|$c$|$c$|$c$|$c$|\}$

$\backslash$hline $\backslash$multirow$[$b$]\{3\}\{*\}\{$Item$\}$ & $\backslash$multirow$[$b$]\{3\}\{*\}\{$Quantity$\}$ & $\backslash$multirow$[$b$]\{3\}\{*\}\{$Unit Cost$\}$ & $\backslash$multirow$[$b$]\{3\}\{*\}\{$Unit Market$\}$ & $\backslash$multirow$[$b$]\{3\}\{*\}\{$Total Cost$\}$ & $\backslash$multirow$[$b$]\{3\}\{*\}\{$Total Market$\}$ & $\backslash$multicolumn$\{3\}\{|$c$|\}\{\backslash$multirow$[$b$]\{2\}\{*\}\{$Individual Item Lower of Cost or Market$\}\}\backslash \backslash$

$\backslash$hline & & & & & & & & $\backslash \backslash$

$\backslash$hline & & & & & & Units & $\backslash [$

$\backslash$begin$\{$array$\}\{$l$\}$

$\backslash$text $\{$ Cost $\}\backslash \backslash$

$\backslash$text $\{$ per Unit $\}$

$\backslash$end$\{$array$\}$

$\backslash ]$ & Total $\backslash \backslash$

$\backslash$hline & & & & & & & & $\backslash \backslash$

$\backslash$hline & & & & & & & & $\backslash \backslash$

$\backslash$hline & & & & & & & & $\backslash \backslash$

$\backslash$hline & & & & & & & & $\backslash \backslash$

$\backslash$hline $\backslash$multicolumn$\{9\}\{|$l$|\}\{$Totals$\}\backslash \backslash$

$\backslash$hline & & & & & & & & $\backslash \backslash$

$\backslash$hline $\backslash$multicolumn$\{9\}\{|$l$|\}\{$a$.$ Ending inventory using lower$-$of$-$cost$-$or$-$market rule applied to each individual inventory item:$\}\backslash \backslash$

$\backslash$hline & & & & & & & & $\backslash \backslash$

$\backslash$hline $\backslash$multicolumn$\{9\}\{|$l$|\}\{$b$.$ Adjustment necessary to write down inventory$\}\backslash \backslash$

$\backslash$hline & & & & & & & & $\backslash \backslash$

$\backslash$hline $\backslash$multicolumn$\{9\}\{|$l$|\}\{$c$.$ Ending inventory using lower$-$of$-$cost$-$or$-$market rule applied to total inventory in aggregate:$\}\backslash \backslash$

$\backslash$hline & & & & & & & & $\backslash \backslash$

$\backslash$hline $\backslash$multicolumn$\{9\}\{|$l$|\}\{$d Adjustment necessary to write down inventory.$\}\backslash \backslash$

$\backslash$hline

$\backslash$end$\{$tabular$\}$

c$.$ Ending inventory using lower$-$of$-$cost$-$or$-$market rule applied to total inventory in aggregate:

d Adjustment necessary to write down inventory.

Given Data P$05-21$A:

$\backslash$begin$\{$tabular$\}\{$crrrr$\}$

$\backslash$hline $\backslash$multicolumn$\{5\}\{$c$\}\{$ RANDY'S PARTS CO$.\}\backslash \backslash$

Item & Quantity & Unit Cost & $\backslash$multicolumn$\{2\}\{$c$\}\{\backslash$begin$\{$tabular$\}\{$c$\}$

Unit $\backslash \backslash$

Market

$\backslash$end$\{$tabular$\}\}\backslash \backslash$

$\backslash$hline P$1$ & $60$ & $\backslash (\backslash$$ $\backslash )$ & $85$ & $\backslash (\backslash$$ $\backslash )\backslash \backslash$

P$2$ & $40$ & $70$ & $90\backslash \backslash$

P$3$ & $80$ & $130$ & $120\backslash \backslash$

P$4$ & $70$ & $125$ & $130\backslash \backslash$

$\backslash$hline

$\backslash$end$\{$tabular$\}$