Product Units on Hand Cost NRV Audio equipment: Wireless audio receivers.. 332 $199 $188 Touchscreen MP3 players... 247 203 223 Audio mixers.. 313 193 177 Audio stands.. 191 85 103 Video equipment: Televisions. 467 278 253 298 5GB video cards.. 171 183 Satellite video recorders.. Car equipment: GPS navigators. . 199 613 618 172 171 145 .......... Double-DIN Car Deck with iPod/iPhone Control and Aux Input.. 157 213 198

Quickbooks Online Accounting
3rd Edition
ISBN:9780357391693
Author:Owen
Publisher:Owen
Chapter5: Operating Activities: Purchases And Cash Payments
Section: Chapter Questions
Problem 4.7C
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Question

 

The following information pertains the physical inventory of Electronics Unlimited taken at December 31

 Required:

  1. Calculate the LCNRV for the:
    Inventory by major group
    b. Inventory, applied separately to each product
  2. Prepare the appropriate entry if any for a and b
Per Unit
Product
Units on Hand Cost
NRV
Audio equipment:
Wireless audio receivers..
332
$199
$188
Touchscreen MP3 players...
247
203
223
Audio mixers....
313
193
177
Audio stands..
191
85
103
Video equipment:
Televisions..
467
253
298
5GB video cards. .
278
171
183
Satellite video recorders..
199
613
618
Car equipment:
GPS navigators...
172
171
145
Double-DIN Car Deck with iPod/iPhone Control
and Aux Input..
157
213
198
Transcribed Image Text:Per Unit Product Units on Hand Cost NRV Audio equipment: Wireless audio receivers.. 332 $199 $188 Touchscreen MP3 players... 247 203 223 Audio mixers.... 313 193 177 Audio stands.. 191 85 103 Video equipment: Televisions.. 467 253 298 5GB video cards. . 278 171 183 Satellite video recorders.. 199 613 618 Car equipment: GPS navigators... 172 171 145 Double-DIN Car Deck with iPod/iPhone Control and Aux Input.. 157 213 198
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