Monday

January 26, 2015

January 26, 2015

Posted by **Bobbi Loffredo** on Friday, March 25, 2011 at 6:40pm.

product total total total Net

cost replacement realizable

cost Value

101 $120,000 110,000 100,000

102 90,000 85,000 110,000

103 60,000 40,000 50,000

104 30,000 28,000 50,000

The normal gross profit percentage is 25% of cost.

Determine the balance sheet inventory carrying value at december 31,2009, assuming the LCM rule is applied to individual products.

Assuming that Tatum recognizes an inventory write-down as a separate income statement item, determine the amount of the loss.

**Answer this Question**

**Related Questions**

operations management - A company requires 5,000 units of a product in a single ...

MATH - Jones Company had 100 units in beginning inventory at a total cost of $10...

Math - Staley Watch Company reported the following income statement data for a 2...

Accounting - Jones Company had 100 units in beginning inventory at a total cost ...

Math - Herman Company has three products in its ending inventory. Specific per ...

Finance - Trying to figure out how to do problems like these. So confused! 1. ...

accounting - identify assumptions and concepts adn correct entries. The company ...

accounting - Jones Company had 100 units in beginning inventory at a total cost ...

accounting - using the following information, calculate inventory turnover ratio...

accounting - I have tried to figure out how to do this for four days and my ...