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almond37 [142]
2 years ago
5

The inventory of Bramble Company on December 31, 2020, consists of the following items. Part Quantity Cost per Unit Net Realizab

le Value 110 620 $121.00 $127.00 111 1,080 76.20 66.00 112 540 101.60 97.00 113 220 215.90 228.60 120 440 260.00 264.00 121 a 1,400 20.00 1.00 122 330 304.80 298.00 a Part No. 121 is obsolete and has a realizable value of $1.00 each as scrap. (a) Determine the inventory as of December 31, 2020, by the LCNRV method, applying this method to each item.
Business
1 answer:
Brrunno [24]2 years ago
6 0

Answer:

$462,562

Explanation:

Lower of Cost and Net Realizable Value (LCNRV) records ending inventory at the lowest between purchase costs or net realizable value.

Part         Q             Cost per Unit          Net RV            Total

110        620              <u>$121.00</u>                 $127.00          $75,020

111        1,080             $76.20                  <u>$66.00</u>            $71,280        

112         540             $101.60                  <u>$97.00</u>           $52,380

113         220            <u>$215.90</u>                $228.60           $47,498

120        440           <u>$260.00</u>                $264.00          $114,400

121      1,400              $20.00                     <u>$1.00</u>             $1,400

122       330             $304.80               <u>$298.00</u>         $100,584

Total                                                                             $462,562

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Explanation:

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Only expenses that can be directly attributed to the business are deductible.

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3 years ago
Net credit sales = $400,000 Net income = $100,000 Average total assets = $80,000 Average accounts receivable = $20,000 What is t
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I hope my answer helps you

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3 years ago
Doc Xpress has an in-house staff of 35 employees who provide transcriptions of phone and video conferences for a range of client
siniylev [52]

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external threat

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John Gardner is the city planner in a medium-sized southeastern city. The city is considering a proposal to award an exclusive c
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<u>Monopoly</u>

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<u>Socically Efficient:</u>

P = $16.80

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Price = 28 - 0.0008Q

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Revenue: P x Q = (28 - 0.0008Q) x Q = 28Q - 0.0008Q²

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R' = R(q) / dq = 28 -0.0016Q

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