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What is the amount of markers inventory to be reported

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Problem - Christybels Corporation uses the lower of cost or net realizable value inventory. Data regarding the items in work-in-process inventory are presented below:

Markers Pens

Historical Cost 24 000 18 880

Selling price 36 000 21 800

Estimated Cost to complete 4 800 4 800

Replacement Cost 20 800 16 800

Normal Profit Margin as percentage of Selling Price 25% 25%

What is the amount of markers inventory to be reported in JA's statement of financial position?

What is the amount of pens inventory to be reported in JA's statement of financial position?

Reference no: EM132935746

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