At December 31, 2021, Bosan Corporation has 4,900 units of Model 63 and 3,500 units of Model 64 in its ending inventory. Specific data with respect to each product follows: Model 63 Model 64 Historical cost RM7,800 RM8,700 Net realizable value 7,700 8,800 What amount will be reported for inventory on Boson's statement of financial position after the company applies Lower of Cost or Net Realisable Value (LCNRV)? O A. RM68,180,000. O B. RM69,020,000. OC. RM75,950,000. O D. RM68,530,000.
At December 31, 2021, Bosan Corporation has 4,900 units of Model 63 and 3,500 units of Model 64 in its ending inventory. Specific data with respect to each product follows: Model 63 Model 64 Historical cost RM7,800 RM8,700 Net realizable value 7,700 8,800 What amount will be reported for inventory on Boson's statement of financial position after the company applies Lower of Cost or Net Realisable Value (LCNRV)? O A. RM68,180,000. O B. RM69,020,000. OC. RM75,950,000. O D. RM68,530,000.
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter8: Inventories: Special Valuation Issues
Section: Chapter Questions
Problem 2MC: Moore Company uses the LIFO cost flow assumption and carries Product A in inventory on December 31,...
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