AT&T;? 10:09 PM 82%- Assignment> Open Assignment Brief Exercise 9-1 Graded 09- P

Question

AT&T;? 10:09 PM 82%- Assignment> Open Assignment Brief Exercise 9-1 Graded 09- Presented below is information related to Shamrock Inc.'s inventory. Leve Submissien) (per unit) 180.20 246.50 Histerical cost $323.00 $90.10 Selling price 60.40 125 38 Cost to complete 49.30 Review Score Review Results by Study Determine the following: the net realizable value for each tem, and the carrying vakue of each item under LCNRV Cost Skis Parkas Click if you would like to Show Work for this question: en Show Work Question Attempts: 0 of 10 used SAVE FORLATER SUBMIT ANSWER

Explanation / Answer

LCNRV rule states that inventory should be valued at lower of cost or NRV Cost = Historical cost + cost to complete Net Realisable value = Selling price - Cost to sell Item Cost NRV LCNRV Skis $377.40 $328.10 $328.10 Boots $229.50 $232.90 $229.50 Parkas $126.23 $121.13 $121.13

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