Solution-What is the final lower-of-cost-or-market

What is the final lower-of-cost-or-market inventory value

Reference no: EM132567258

Question - Robust Inc. has the following information related to an item in its ending inventory. Product 66 has a cost of $162, a replacement cost of $155, a net realizable value of $160, and a normal profit margin of $2. What is the final lower-of-cost-or-market inventory value for product 66?

a. $162.

b. $155.

c. $160.

d. $158.

Reference no: EM132567258

Questions Cloud

Discussion about the public health emergency : Need to access articles addressing a public health emergency. Domestic or international. Topics for the disaster review include: Floods or Earthquakes.

Challenges and benefits of employing diverse workforce : Evaluate the challenges and benefits of employing a diverse workforce. How does the diversity group contribute to a collaborative and innovative environment?

Compute Carter monthly payment : Carter has accumulated $6,759 in debt on his credit card. The card has an APR of 18.7%. Use Excel to compute Carter's monthly payment

Calculate the ending balances of work-in-process inventory : Calculate the ending balances of Work-in-Process Inventory. Incurred direct labor payroll for the month of $17,850, with an average wage of$8.50 per hour.

What is the final lower-of-cost-or-market inventory value : A net realizable value of $160, and a normal profit margin of $2. What is the final lower-of-cost-or-market inventory value for product 66

What was the most important thing you learned from the clip : After watching the Change is Good... You Go First movie clip, list three ways in which change can impact your leadership at work and two ways it can impact.

Prepare the journal entries for the preceding events : Prepare the journal entries for the preceding events. Incurred direct labor payroll for the month of $17,850, with an average wage of$8.50 per hour.

What is the cost of goods sold using the LIFO method : The company purchased 480 units at $21 each. Sales during the month totaled 360 units for $43 each. What is the cost of goods sold using the LIFO method

Calculate hours and amount for each day to simplify monica : Show calculations per scenario from Monday to Sunday. Calculate hours and amount for each day to simplify Monica weekly wage

User Account

All Pages

What is the final lower-of-cost-or-market inventory value

Reference no: EM132567258

Reference no: EM132567258

Questions Cloud

Reviews

Write a Review

Accounting Basics Questions & Answers

Prepare the consolidation worksheet entries for Alma Ltd

What was lehighton total operating income across both years

Prepare the adjusting journal entry to reflect the warranty

Evaluate the results of your current investment

Determine the cost behavior formula of each resource

Why might a business review and update the way

Example of direct labor cost for an airplane manufacturer

Code of conduct in large company

Why do we have various methods of depreciation

A company had the following results last year sales 700000

What amount should ridge road report for its equity

Identify and analyse the achievements of the burns and scape

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT