User Account

All Pages

Determine the inventory as of december

Assignment Help Accounting Basics
Reference no: EM132172106

Question - The inventory of Oheto Company on December 31, 2017, consists of the following items.

Part Quantity Cost per Unit Net Realizable Value

110 600 $95 $100

111 1000 60 52

112 500 80 76

113 200 170 180

120 400 205 208

121a 1600 16 1

122 300 240 235

Part No. 121 is obsolete and has a realizable value of $1 each as scrap.

1. Determine the inventory as of December 31, 2017, by the LCNRV method, applying this method to each item.

2. Determine the inventory by the LCNRV method, applying the method to the total of the inventory.

Reference no: EM132172106

Questions Cloud

How does iago succeed in planting the seeds of suspicion : Looking closely at his language in Act III, scene 3, how does Iago succeed in planting the seeds of suspicion in Othello's mind?
Discuss the causes for failure in quality : A bow-tie analysis places the critical incident at the center of the framework and identifies in graphic format the root cause leading up to the incident.
Value streams of services and that of manufactured products : Find the difference and similarities between the value streams of services and that of manufactured products
What we have been rewarded and punished for shapes : In this assignment, you are being asked to answer the question: (from your perspective): What does it mean to be human? This is a reflection/opinion.
Determine the inventory as of december : The inventory of Oheto Company on December 31, 2017, Determine the inventory as of December 31, 2017, by the LCNRV method, applying this method to each item
Prepare the entry to record the sale of asset : Prepare the entry to record the sale of asset D for cash of $5, 184. It was used for 6 years, and depreciation was entered under the composite method
Ethics in project management : Ethics is a hot topic in business, as well as in Project Management. Read the PDF entitled "Ethics in Project Management".
Modern public and nonprofit sector environment : The contracting of services and functions—even core, traditional services and functions—is a reality of the modern public and nonprofit sector environment.
Determine net income under the accrual basis of accounting : Revenue recognized $19,000. Given the data below for a firm in its first year of operation, determine net income under the accrual basis of accounting

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd