Apricot Company sells a variety of items to its customers. At December 31, the balance of Apricot’s ending inventory account was P5,000,000 and the allowance to reduce inventory to NRV account before any adjustment was P200,000. Relevant information about the inventories and the breakdown of inventory cost and market data at December 31 follows: Item Cost NRV A 1,000,000 700,000 B 1,500,000 1,600,000 C 1,700,000 1,450,000 D 800,000 950,000 Total 5,000,000 4,700,000 How much is the balance of Allowance to Reduce Inventory to NRV after an appropriate adjusting entry is made at December 31?
Apricot Company sells a variety of items to its customers. At December 31, the balance of Apricot’s ending inventory account was P5,000,000 and the allowance to reduce inventory to NRV account before any adjustment was P200,000. Relevant information about the inventories and the breakdown of inventory cost and market data at December 31 follows: Item Cost NRV A 1,000,000 700,000 B 1,500,000 1,600,000 C 1,700,000 1,450,000 D 800,000 950,000 Total 5,000,000 4,700,000 How much is the balance of Allowance to Reduce Inventory to NRV after an appropriate adjusting entry is made at December 31?
Chapter10: Inventory
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Problem 2PA: Trini Company had the following transactions for the month. Calculate the ending inventory dollar...
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Apricot Company sells a variety of items to its customers. At December 31, the balance of Apricot’s ending inventory account was P5,000,000 and the allowance to reduce inventory to NRV account before any adjustment was P200,000. Relevant information about the inventories and the breakdown of inventory cost and market data at December 31 follows:
Item Cost NRV
A 1,000,000 700,000
B 1,500,000 1,600,000
C 1,700,000 1,450,000
D 800,000 950,000
Total 5,000,000 4,700,000
How much is the balance of Allowance to Reduce Inventory to NRV after an appropriate
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