Question: I need help with e6-9.. Determine the amount of the ending inventory by applying the lower-of-cost-or realizable value basis. Benovic Company OAO applied FIFO to
I need help with e6-9..
Determine the amount of the ending inventory by applying the lower-of-cost-or realizable value basis. Benovic Company OAO applied FIFO to its inventory and got the following results for its ending inventory: The net realizable value per unit at year-end was tennis shoes euro 70, running shoe, euro 7, and basketball shoes euro 74. Determine the amount of ending inventory at lower-of-cost-or-net realizable value. Bamburgh Hardware reported cost of goods sold as follows. Bamburgh made two errors: (1) 2016 ending inventory was overstated euro 2,000, and (2) 2017 ending inventory was understated euro 6,000
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