HelR l System Announcements gnment
Problem 6-9A
Orole Company has provided you with the following information regarding its inventory of copper for September and October. Oriole uses a perpetual inventory system.
September October
30
31
Copper inventory (in tonnes)
2,500
2,000
Cost per tonne
$510
$580
NRV per tonne
$545
$520
Calculate the cost, the net realizable value, and the amount to be reported on the balance sheet for Oriole's inventory at (1) September 30 and (2) October 31.
Tonnes
Total Cost
Total NRV
LCNRV
(1) Sept. 30
2,500
$
S
(2) Oct. 31
2,000

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