Solution-Compute inventory valuation that should be reported

Compute inventory valuation that should be reported

Reference no: EM131695940

Question - The December 31, 2016 inventory of ABC Company consisted of four products, for which certain information is provided below.

Product	Original Cost	Replacement Cost	Estimated Disposal Cost	Expected Selling Price	Normal Profit on Sales
A	$24.00	$22.00	$6.50	$40.00	20%
B	$42.00	$40.00	$10.00	$48.00	25%
C	$120.00	$115.00	$25.00	$190.00	30%
D	$19.00	$15.80	$4.00	$26.00	10%

Using the lower-of-cost-or-market approach applied on an individual-item basis, compute the inventory valuation that should be reported for each product on December 31, 2016.

Reference no: EM131695940

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Compute inventory valuation that should be reported

Reference no: EM131695940

Reference no: EM131695940

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