irlrisottonero
30.10.2019 •
Business
Exercise 6-9 whispering winds corp. uses the lower-of-cost-or-market basis for its inventory. the following data are available at december 31. units cost per unit market per unit cameras minolta 5 $180 $163 canon 7 133 141 light meters vivitar 11 125 112 kodak 10 121 129 what amount should be reported on whispering winds corp.’s financial statements, assuming the lower-of-cost-or-market rule is applied?
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Ответ:
Minolta: 5 at $ 163 = $ 815
Canon: 7 at $ 133 = $ 931
Vivitar 11 at $ 112 = $ 1,232
Kodak 10 at $ 121 = $ 1,210
Total Inventory: $ 4,188
Explanation:
We must value the inventory at the lower value between the historic cost and the market value of the assets. This is done to follow the conservatism principles of accounting.
Minolta: 5 at $ 163 = $ 815
Canon: 7 at $ 133 = $ 931
Vivitar 11 at $ 112 = $ 1,232
Kodak 10 at $ 121 = $ 1,210
Total Inventory: $ 4,188
Ответ:
Answer
a)= negative
b)= c
c)= B, there is no correlation
Step-by-step explanation: