Business, 04.07.2020 22:01 ghlin96

Decker Company has five products in its inventory. Information about the December 31,2016, inventory follows:Product Quantity Unit Cost Unit Selling PriceA 1,200 $14 $20B 1,000 19 22C 800 5 10D 400 9 8E 800 18 17The cost to sell for each product consists of a 10 percent sales commission. Required:1. Determine the book value of the inventory at December 31, 2016, assuming the lower of cost and net realizable value rule is applied to individual products. Product (units) Cost NRV Inventory ValueA (1,200) $16,800 $16,800B (1,000) 19,000 19,000C (800) 4,000 4,000D (400) 3,600 E (800) 14,400 $57,800 $ $39,8002. Determine the book value of inventory at December 31, 2016, assuming the lower of cost and net realizable value rule is applied to the entire inventory. Also assuming that Decker reports an inventory write-down as a line item in the income statement, determine the amount of the loss. Inventory book value Loss from inventory write-down

Answers: 2

Show answers

Other questions on the subject: Business

Business, 21.06.2019 20:30, johnisawesome999

Licensing is perhaps the easiest method of entering into international trade. another method of entering international trade, which can be relatively low risk, is which opens several levels of involvement to company

Answers: 2

continue

Business, 22.06.2019 15:40, brookekolmetz

As sales exceed the break‑even point, a high contribution‑margin percentage (a) increases profits faster than does a low contribution-margin percentage (b) increases profits at the same rate as a low contribution-margin percentage (c) decreases profits at the same rate as a low contribution-margin percentage (d) increases profits slower than does a low contribution-margin percentage

Answers: 1

continue

Business, 22.06.2019 17:10, mikailah0988

At the end of the current year, accounts receivable has a balance of $550,000; allowance for doubtful accounts has a credit balance of $5,500; and sales for the year total $2,500,000. an analysis of receivables estimates uncollectible receivables as $25,000. determine the net realizable value of accounts receivable after adjustment. (hint: determine the amount of the adjusting entry for bad debt expense and the adjusted balance of allowance of doubtful accounts.)

Answers: 3

continue

Business, 22.06.2019 19:00, xojade

1. what must one do to perform the essential managerial task of controlling in achieving organizational goals? a. motivate, coordinate, and energize individuals and groups to work together to achieve organizational goals b. choose appropriate organizational goals and courses of action to best achieve those goals c. establish task and authority relationships that allow people to work together to achieve organizational goals d. establish accurate measuring and monitoring systems to evaluate how well the organization has achieved its goals

Answers: 1

continue

You know the right answer?

Decker Company has five products in its inventory. Information about the December 31,2016, inventory...