Creative Technology reports inventory using the lower of cost and net realizable value (NRV). Below is information related to its year-end inventory. Calculate the total amount to be reported for ending inventory. Inventory Quantity Unit Cost NRV Optima cameras Inspire speakers 110 50 $45 55 $75 45
Creative Technology reports inventory using the lower of cost and net realizable value (NRV). Below is information related to its year-end inventory. Calculate the total amount to be reported for ending inventory. Inventory Quantity Unit Cost NRV Optima cameras Inspire speakers 110 50 $45 55 $75 45
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
Chapter7: Inventories: Cost Measurement And Flow Assumptions
Section: Chapter Questions
Problem 11RE: Jessie Stores uses the periodic system of calculating inventory. The following information is...
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Creative Technology reports inventory using the lower of cost and net realizable value (NRV). Below is information related to its year-end inventory. Calculate the total amount to be reported for ending inventory.
Inventory | Quantity | Unit Cost | NRV |
Optima cameras Inspire speakers |
110 50 |
$45 55 |
$75 45 |
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