Whispering Corporation has the following four items in its ending inventory. Item Jokers Penguins Riddlers Scarecrows...
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Whispering Corporation has the following four items in its ending inventory. Item Jokers Penguins Riddlers Scarecrows Net Realizable Cost Value (NRV) $2,440 $2,562 6,100 6,039 5,643 4,673 5,368 3,904 1) Determine the amount of write-down, if any, using an item-byitem LCNRV evaluation. (If no write-down, enter 0 for the amounts.) (2) Determine the amount of write-down, if any, using a total category LCNRV evaluation Whispering Corporation has the following four items in its ending inventory. Item Jokers Penguins Riddlers Scarecrows Net Realizable Cost Value (NRV) $2,440 $2,562 6,100 6,039 5,643 4,673 5,368 3,904 1) Determine the amount of write-down, if any, using an item-byitem LCNRV evaluation. (If no write-down, enter 0 for the amounts.) (2) Determine the amount of write-down, if any, using a total category LCNRV evaluation
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Itembyitem LCNRV Evaluation Jokers Writedown Cost NRV 2440 2562 122 No writedown ... View the full answer
Related Book For
Intermediate Accounting
ISBN: 978-0470423684
13th Edition
Authors: Donald E. Kieso, Jerry J. Weygandt, And Terry D. Warfield
Posted Date:
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