Reporting & Analyzing Inventory - College Accounting Level 1 The following infor

Question

Reporting & Analyzing Inventory - College Accounting Level 1

The following information on cost and net realizable value of Bramble Ltd.'s various inventory categories was gathered at December 31: Inventory Categories Cost Desktops Tablets and readers Laptops Tablets and readers NRV $348,700 $327,600 169,300 225,100 219,300 283,700 97,000 93,600 (a) Calculate the lower of cost and net realizable value for each inventory category within Bramble's inventory. Lower of cost and net realizable value s

Explanation / Answer

The correct answer is : $ 809,800

Inventory categories Cost NRV Lower of Cost or NRV Desktops 348,700 327,600 327,600 Tablets and readers 169,300 225,100 169,300 laptops 219,300 283,700 219,300 Tablets and readers 97,000 93,600 93,600 809,800

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