The December 31, 2025 inventory of Blossom Company consisted of four products, for which certain information...

Transcribed Image Text:

The December 31, 2025 inventory of Blossom Company consisted of four products, for which certain information is provided below. Normal Profit Replacement Product Original Cost Cost Estimated Disposal Cost Expected Selling Price on Sales ABCD $24.00 $22.00 $5.00 $40.00 20.00% $40.00 $38.00 $9.00 $48.00 20.00% $120.00 $115.00 $20.00 $180.00 20.00% $17.00 $14.00 $3.00 $25.00 10.00% Using the lower-of-cost-or-market approach applied on an individual-item basis, compute the inventory valuation that should be reported for each product on December 31, 2025. (Round answers to 2 decimal places, e.g. 52.75.) Lower-of-Cost-or-Market Product A $ B $ EA C D SA The December 31, 2025 inventory of Blossom Company consisted of four products, for which certain information is provided below. Normal Profit Replacement Product Original Cost Cost Estimated Disposal Cost Expected Selling Price on Sales ABCD $24.00 $22.00 $5.00 $40.00 20.00% $40.00 $38.00 $9.00 $48.00 20.00% $120.00 $115.00 $20.00 $180.00 20.00% $17.00 $14.00 $3.00 $25.00 10.00% Using the lower-of-cost-or-market approach applied on an individual-item basis, compute the inventory valuation that should be reported for each product on December 31, 2025. (Round answers to 2 decimal places, e.g. 52.75.) Lower-of-Cost-or-Market Product A $ B $ EA C D SA

Answer rating: 100% (QA)

Okay let me walk through this stepbystep Profit for the year pe... View the full answer