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MatroZZZ [7]
3 years ago
13

Lower of Cost or Market The accountant for Murphy Company prepared the following analysis of its inventory at year end: Item Uni

ts Cost per Unit Net Realizable Value RSK-89013 600 $38 $47 LKW-91247 420 47 40 QEC-57429 510 26 32 Required: 1. Compute the carrying value of the ending inventory using the lower of cost or market method applied on an item-by-item basis.
Business
1 answer:
Nina [5.8K]3 years ago
7 0

Answer:

  $52,860

Explanation:

The computation of the ending inventory using the  lower of cost or market method is shown below:

Product                    Cost           Net realizable value Lower of cost or NRV

RSK-89013 600 × $38 = $22,800 600 × $47 = $28,800   $22,800

LKW-91247 420 × $47 = $19,740     420 × $40 = $16,800        $16,800

QEC-57429  510 × $26 = $13,260    510 × $32 = $16,320         $13,260

Carrying value of the ending inventory is                                       $52,860

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4 0
3 years ago
Use the compound interest formula to determine the accumulated balance after the stated period. ​$60006000 invested at an APR of
My name is Ann [436]

Answer:

The final value of the investment after 3 years is $7,146.10

Explanation:

Giving the following information:

Investment= $6,000

Interest rate= 6​% compounded annually

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To calculate the final value, we need to use the following formula:

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3 0
3 years ago
Members of the dc real estate commission are limited to how many consecutive terms?
Mashutka [201]

Participants of the dc real property fee: time period limit. A member can't serve for extra than 2 consecutive, full three-12 months phrases until the courtroom makes a special exception.

Consecutive refers to matters that are arranged or show up in sequential order. A criminal who serves a consecutive sentence does time for one conviction after any other.

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4 0
1 year ago
Payback period computation; even cash flows LO P1
lesya692 [45]

Answer:

$520,000 / $235,000 = 2.2 years

$380,000 / $105,000 = 3.6 years

Explanation:

Payback period calculates how long it takes to recover the amount invested in a project from its cumulative cash flows

Payback period = amount invested / cash flow

Cash flow = net income + depreciation expense

Depreciation expense using the straight line depreciation expense = (cost of asset - salvage value) / number of years

A. ($520,000 - $10,000) / 6 = $85,000

cash flow = $150,000 + $85,000 = $235,000

$520,000 / $235,000 = 2.2 years

B. ($380,000 - $20,000) / 8 = $45,000

$45,000 +  $60,000 = $105,000

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3 years ago
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