Cruz Video Center accumulates the following cost and net realizable data at December 31.
Cruz Video Center accumulates the following cost and net realizable data at December 31.
Inventory Categories Cost Data Net Realizable Value Data
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Camcorders 13, 538 13,823
Blu-Ray players 19,950 18,383
Compute the lower-of-cost-or-net realizable value valuation for the company’s total inventory.
The lower-of-cost-or-net realizable value _________?
- Rosario Department Store uses a perpetual inventory system. Data for product E2-D2 include the following purchases.
Date Number of Units Unit Price
May 7 228 $10
July 28 137 13
On June 1, Rosario sold 119 units, and on August 27, 182 more units.
Prepare the perpetual inventory schedule for the above transactions using FIFO
Date Purchases Cost of Goods Sold Balance
May 7 ______ ________ ______
June1
June 28
Aug 27
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