SLR Corporation has 2,600 units of each of its two products in its year end inventory The unitary data of each of the products are the following Product 1 product 2 Cost ps 82 ps 50 Sale price 150 52 selling costs 12 3 Required Determine the book value of SLR inventory assuming the lower of cost or...

To determine the book value of SLR inventory using the lower of cost or net realizable value LCNRV r ...

SLR Corporation has 2,600 units of each of its two products in its year-end inventory. The unitary

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SLR Corporation has 2,600 units of each of its two products in its year-end inventory. The unitary data of each of the products are the following:

	Product 1			product 2
Cost		ps	82		ps	50
Sale price			150			52
selling costs			12			3

Required
Determine the book value of SLR inventory assuming the lower of cost or net realizable value (LCNRV) rule applies to individual products. What is the pre-tax income effect of the LCNRV adjustment?

What is the pre-tax income effect of the LCNRV adjustment?

Related Book For answer-question

Intermediate Accounting

ISBN: 978-1260481952

10th edition

Authors: J. David Spiceland, James Sepe, Mark Nelson, Wayne Thomas

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Posted Date: Mar 28, 2023 03:26 AM

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