Business, 19.10.2019 04:30 Jenniferojeda2002
Vaughn company developed the following information about its inventories in applying the lower-of-cost-or-net realizable value (lcm) basis in valuing inventories:
net realizable product cost value
a $111000 $119000
b 81000 74000
c 153000 162000
if vaughn applies the lcnrv basis, the value of the inventory reported on the balance sheet would be
(a) $338000.
(b) $355000.
(c) $362000.
(d) $345000.
Answers: 2
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Vaughn company developed the following information about its inventories in applying the lower-of-co...
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