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Leona [35]
3 years ago
15

Concord Corporation developed the following information about its inventories in applying the lower-of-cost-or-net-realizable-va

lue(LCNRV) basis in valuing inventories:_______. Product Cost Market A $91000 $96000 B 64000 61000 C 128000 130000 After Concord Corporation applies the LCNRV rule, the value of the inventory reported on the balance sheet would be:________.
Business
1 answer:
scZoUnD [109]3 years ago
3 0

Answer:

the value of the inventory reported is $280,000

Explanation:

The computation of the inventory reported on the balance sheet is shown below:

As we know that the inventory should be recorded at lower cost of cost or market value. So here the same is applied

= Lower amount of market A +  Lower amount of market B +  Lower amount of market C

= $91,000 + $61,000 + $128,000

= $280,000

hence, the value of the inventory reported is $280,000

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Aloiza [94]

Answer: $283,140

Explanation:

Total Cost = Materials cost + Conversion cost

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You find an apartment that rents for $320 per month. You are also responsible for ulities that average $80 per month. What is yo
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For this question, you need to find out some basic information. We know that 12 months is a total of a year. First, add up the rent, plus the utilities.

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3 years ago
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Please help me with this journal prompts
babymother [125]

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Explanation:

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Firms that compete in the global marketplace typically face two types of competitive pressures, namely, the pressures for ______
mr_godi [17]

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Firms that compete in the global marketplace typically face two types of competitive pressures, namely, the pressures for global integration and local responsiveness.

A global integration can be defined as the degree to which a particular firm can make use of the available resources, products and methods in another country.

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