Question

Whispering Winds Corporation has the following four items in its ending inventory: Item Cost Estimated Selling...

Whispering Winds Corporation has the following four items in its ending inventory:

Item Cost Estimated
Selling Price		 Estimated
Disposal Costs

Neutrinos

 $ 1,800 $2,080 $90

Ocillinos

 4,900 4,800 90

Electrons

 4,200 4,535 190

Protons

 3,300 4,310 90

Partially correct answer iconYour answer is partially correct.

Assume that Whispering Winds is a public company using IFRS. Determine the total value of ending inventory, using the lower of cost and net realizable value model applied on an individual item basis.

Business   Accounting   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

Answer-

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Blue Corporation has the following four items in its ending inventory. Item Cost Net Realizable Value...
Blue Corporation has the following four items in its ending inventory. Item Cost Net Realizable Value (NRV) Jokers $2,880 $3,024 Penguins 7,200 7,128 Riddlers 6,336 6,660 Scarecrows 4,608 5,515 Determine the following the LCNRV for each item. Item LCNRV Jokers $enter a dollar amount Penguins enter a dollar amount Riddlers enter a dollar amount Scarecrows enter a dollar amount
Sunland Corporation has the following four items in its ending inventory. Item Cost Net Realizable Value...
Sunland Corporation has the following four items in its ending inventory. Item Cost Net Realizable Value (NRV) Jokers $2,520 $2,646 Penguins 6,300 6,237 Riddlers 5,544 5,828 Scarecrows 4,032 4,826 (a) Determine the following the LCNRV for each item. Item LCNRV Jokers $enter a dollar amount Penguins enter a dollar amount Riddlers enter a dollar amount Scarecrows enter a dollar amount
Sunland Corporation has the following four items in its ending inventory. Item Cost Net Realizable Value...
Sunland Corporation has the following four items in its ending inventory. Item Cost Net Realizable Value (NRV) Jokers $2,520 $2,646 Penguins 6,300 6,237 Riddlers 5,544 5,828 Scarecrows 4,032 4,826 Determine the following the LCNRV for each item. Item LCNRV Jokers $enter a dollar amount Penguins enter a dollar amount Riddlers enter a dollar amount Scarecrows enter a dollar amount eTextbook and Media       (1) Determine the amount of write-down, if any, using an item-by-item LCNRV evaluation. (If no write-down,...
Sarasota Co. follows the practice of valuing its inventory at the lower-of-cost-or-market. The following information is...
Sarasota Co. follows the practice of valuing its inventory at the lower-of-cost-or-market. The following information is available from the company’s inventory records as of December 31, 2017. Item Quantity Unit Cost Replacement Cost/Unit Estimated Selling Price/Unit Completion & Disposal Cost/Unit Normal Profit Margin/Unit A 1,200 $ 7.58 $ 8.48 $ 10.61 $ 1.52 $ 1.82 B 900 8.28 7.98 9.49 0.91 1.21 C 1,100 5.66 5.45 7.27 1.16 0.61 D 1,100 3.84 4.24 6.36 0.81 1.52 E 1,500 6.46 6.36...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT