Malone Company determined its ending inventory at cost and at LCNRV at December 31, 2020, December 31, 2021, and December 31, 2022, as shown below.       Cost    NRV 12/31/20    $650,000    $650,000 12/31/21    780,000    712,000 12/31/22    905,000    830,000 Instructions a.    Prepare the journal entries required at December 31, 2021, and at December 31, 2022, assuming that a perpetual inventory system and the cost-of-goods-sold method of adjusting to LCNRV is used. b.    Prepare the journal entries required at December 31, 2021, and at December 31, 2022, assuming that a perpetual inventory is recorded at cost and reduced to LCNRV using the loss method.

On January 1, 2019, Lexor Company adopted the dollar-value-LIFO method of inventory costing. Lexor's ending inventory records appear as follows: Year Current cost Index 2019 $ 42,000 100 (1.00) 2020 58,000 110 (1.10) 2021 60,100 120 (1.20) 2022 68,200 130 (1.30) Compute the ending inventory for the years 2019, 2020, 2021, and 2022, using the dollar-value LIFO method. Round to the nearest dollar. Show all work. You can use the previous homework template that you used for

Ff.101.

Presented below is information related to Sheffield Company. December 31, 2022 December 31, 2023 December 31, 2024 December 31, 2025 December 31, 2026 December 31, 2027 2022 2023 2024 2025 Date 2026 2027 Ending Inventory (End-of-Year Prices) $ $82,100 117,104 114,835 129,516 154,985 183,168 Compute the ending inventory for Sheffield Company for 2022 through 2027 using the dollar-value LIFO method. Price Index Ending Inventory 100 104 119 129 139 144

Boulder, Incorporated is computing its inventory at December 31, 2022. The following information relates to the five major inventory items regularly stocked for resale: Item A B C D E Item A B Required: Using the lower of cost or net realizable value, compute the total valuation for each inventory item at December 31 2022, and the total inventory valuation. C Ending Inventory, Quantity on December 31, 2022 Unit Hand 140 190 45 340 740 D E Total Inventory Valuation $ Net Realizable Value (Market) at Cost when Acquired (FIFO) December 31, 2022 $44 $39 $54 $56 $104 $84 $66 $16 0 $64 $19

Current Attempt in Progress Plant Company began operations in 2021 and determined its ending inventory at cost and at lower-of-cost-or-NRV at December 31, 2021, 2022, and 2023. This information is presented below. Cost Lower-of-Cost-or-NRV December 31, 2021 $87,000 $71,000 December 31, 2022 100,000 98,000 December 31, 2023 97,000 97,000 (a) Prepare the journal entries required at December 31, 2021, 2022, and 2023, assuming that the cost-of-goods-sold method is used with an allowance account. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.)

Wildhorse Company began operations in 2025 and determined its ending inventory at cost and at LCNRV at December 31, 2025, and December 31, 2026. This information is presented below. 12/31/25 $855,000 12/31/26 (a) Cost Date 1,022,000 LCNRV $809,400 986,700 Prepare the journal entries required at December 31, 2025, and December 31, 2026, assuming that the inventory is recorded at LCNRV, and that a perpetual inventory system. Using the cost-of-goods-sold method. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter o for the amounts. List all debit entries before credit entries. Record journal entries in the order presented in the problem.) Account Titles and Explanation Debit Credit

Bonita Company began operations in 2025 and determined its ending inventory at cost and at LCNRV at December 31, 2025, and December 31, 2026. This information is presented below. 12/31/25 12/31/26 Cost $312,750 393,920 Date Net Realizable Value $286,430 371,370 (a) Prepare the journal entries required at December 31, 2025, and December 31, 2026, assuming inventory is recorded at LCNRV and a perpetual inventory system using the cost-of-goods-sold method. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter O for the amounts. Record journal entries in the order presented in the problem.) Account Titles and Explanation Debit Credit