Cost and Net Realizable Value Rule Assignment

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    Cost and Net Realizable Value Rule Assignment

    Data related to the inventories of Alpine Ski Equipment and Supplies is presented below: Skis Boots Apparel Supplies   Selling price $166,000 $161,000 $106,000 $72,000   Cost 128,000 138,000 68,900 46,800   Replacement cost 113,000 125,000 112,000 42,800   Sales commission 10% 10% 10% 10% In applying the lower of cost and net realizable value rule, the inventory of apparel would be valued at: Cost and Net Realizable Value Rule Assignment Multiple Choice $97,980. $112,000. $95,400. $68,900. Get Accounting homework help today

    Data related to the inventories of Alpine Ski Equipment and Supplies is presented below:
    Skis Boots Apparel Supplies
      Selling price $166,000 $161,000 $106,000 $72,000
      Cost 128,000 138,000 68,900 46,800
      Replacement cost 113,000 125,000 112,000 42,800
      Sales commission 10% 10% 10% 10%
    In applying the lower of cost and net realizable value rule, the inventory of apparel would be valued at:

    Cost and Net Realizable Value Rule Assignment

    Cost and Net Realizable Value RuleMultiple Choice