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Lower-of-Cost-Net-Realizable-Value Method The following data are taken from the Browning Corporation’s inventory accounts: Item Code Quantity Unit Cost Net Realizable Value ACE 100 $27 $25 BDF 300 29 31 GHJ 400 22 18 MBS 200 23 27 Calculate the value of the company’s ending inventory using the lower-of-cost-or-net realizable value method applied to each item of inventory. Ending Inventory Value: $Answer

Lower-of-Cost-Net-Realizable-Value Method The following data are taken from the Browning Corporation’s inventory accounts: Item Code Quantity Unit Cost Net Realizable Value ACE 100 $27 $25 BDF 300 29 31 GHJ 400 22 18 MBS 200 23 27 Calculate the value of the company’s ending inventory using the lower-of-cost-or-net realizable value method applied to each item of inventory. Ending Inventory Value: $Answer

Cornerstones of Financial Accounting
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter6: Cost Of Goods Sold And Inventory
Section: Chapter Questions
Problem 56E: Lower of Cost or Market Merediths Appliance Store has the following data for the items in its...
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Lower-of-Cost-Net-Realizable-Value Method 

The following data are taken from the Browning Corporation’s inventory accounts:

Item
Code
Quantity		 Unit
Cost		 Net Realizable
Value
ACE 100 $27 $25
BDF 300 29 31
GHJ 400 22 18
MBS 200 23 27


Calculate the value of the company’s ending inventory using the lower-of-cost-or-net realizable value method applied to each item of inventory.

Ending Inventory Value: $Answer

 
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