Question: please answer both questions in 10 min thanks Given the historical cost of product Z is $21, the selling price of product is $26, costs

Given the historical cost of product Z is $21, the selling price of product is $26, costs to sell product Z are $3, the replacement cost for product Zis $22, and the normal profit margin is 40% of sales price, what is the market value that should be used in the lower-of- cost-or-market comparison? CE $21. $22 $23 $19. Wildhorse Inc. has the following information related to an item in its ending inventory. Product 66 has a cost of $160, a replacement cost of $152, a net realizable value of $158, and a normal profit margin of $10. What is the final lower-of-cost-or-market inventory value for product 66? $150. $158. $160 $152
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