25. W Company carried four items in inventory. The following per-unit data relate to these items atthe end of first year of operations:UnitsCostSale price$elling costNormal profitCategory 1:A25,00020,0001051301520В85901010Category 2C40,000504055D30,00065751510What is the measurement of inventory under LCNRV applied to individual item?a. 7,625,000b. 8,275,000c. 7,425,000d. 7,875,000

Name: 25. W Company carried four items in inventory. The following per-unit
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Description: 25. W Company carried four items in inventory. The following per-unit data relate to these items atthe end of first year of operations:UnitsCostSale price$elling costNormal profitCategory 1:A25,00020,0001051301520В85901010Category 2C40,000504055D30,

LCNRV stands for Lower of cost or Net Realizable value is defined as the method of inventory which…

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Accounting

25. W Company carried four items in inventory. The following per-unit data relate to these items at the end of first year of operations: Units Cost Sale price $elling cost Normal profit Category 1: A 25,000 105 130 15 20 B 20,000 85 90 10 10 Category 2 40,000 30,000 C 50 40 D 65 75 15 10 What is the measurement of inventory under LCNRV applied to individual item? a. 7,625,000

25. W Company carried four items in inventory. The following per-unit data relate to these items at the end of first year of operations: Units Cost Sale price $elling cost Normal profit Category 1: A 25,000 105 130 15 20 B 20,000 85 90 10 10 Category 2 40,000 30,000 C 50 40 D 65 75 15 10 What is the measurement of inventory under LCNRV applied to individual item? a. 7,625,000

SWFT Individual Income Taxes

43rd Edition

ISBN:9780357391365

Author:YOUNG

Publisher:YOUNG

Chapter18: Accounting Periods And Methods

Section: Chapter Questions

Problem 67P

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