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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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The variable and fixed expenses of providing commodities are combined to create a total using the total cost formula. The equation is:

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6 0
2 years ago
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drek231 [11]

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What is a bona fide occupational qualification? are they a good idea? do we need more?
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1 year ago
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2 years ago
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