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    (IFA 11) - Rendy Filiang - 1402210324

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    RENDY FILIANG
    The document lists part numbers and their corresponding unit costs and market values. It then provides an example calculation of inventory value using the lower-of-cost-or-market method, showing the total cost, total market value, and total inventory value based on the lower amounts. The summary provides an example calculation of applying this method to determine the inventory value.

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    Download as XLSX, PDF, TXT or read online from Scribd

    (IFA 11) - Rendy Filiang - 1402210324

    Uploaded by

    RENDY FILIANG
    31 views6 pages
    The document lists part numbers and their corresponding unit costs and market values. It then provides an example calculation of inventory value using the lower-of-cost-or-market method, showing the total cost, total market value, and total inventory value based on the lower amounts. The summary provides an example calculation of applying this method to determine the inventory value.

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    (IFA 11)_Rendy Filiang_1402210324.xlsx

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    The document lists part numbers and their corresponding unit costs and market values. It then provides an example calculation of inventory value using the lower-of-cost-or-market method, showing the total cost, total market value, and total inventory value based on the lower amounts. The summary provides an example calculation of applying this method to determine the inventory value.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    31 views6 pages

    (IFA 11) - Rendy Filiang - 1402210324

    Uploaded by

    RENDY FILIANG
    The document lists part numbers and their corresponding unit costs and market values. It then provides an example calculation of inventory value using the lower-of-cost-or-market method, showing the total cost, total market value, and total inventory value based on the lower amounts. The summary provides an example calculation of applying this method to determine the inventory value.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    of 6

    Part NO

    110
    111
    112
    113
    120
    121
    122

    a.

    b.
    Per Unit Lower -of-cost-of-
    Quantity Cost market Total Cost Total Market market
    600 $ 95.00 $ 100.00 $ 57,000 $ 60,000 $ 57,000
    1000 $ 60.00 $ 52.00 $ 60,000 $ 52,000 $ 52,000
    500 $ 80.00 $ 76.00 $ 40,000 $ 38,000 $ 38,000
    200 $ 170.00 $ 180.00 $ 34,000 $ 36,000 $ 34,000
    400 $ 205.00 $ 208.00 $ 82,000 $ 83,200 $ 82,000
    1600 $ 16.00 $ 1.00 $ 25,600 $ 1,600 $ 1,600
    300 $ 240.00 $ 235.00 $ 72,000 $ 70,500 $ 70,500
    $ 370,600 $ 341,300 $ 335,100

    Determine the inventory as of december 31,2019. by the LCNRV this


    method, to each item
    = $ 335,100

    determine the inventory by the LCNRV method, aplying the method to


    the total of the inventory
    = $ 341,300
    Item
    D
    E
    F
    G
    H
    I

    *Estimated selling Pice - Est


    =
    Net Realizable Value Cost LCRNV
    € 80 € 75 € 75
    € 62 € 80 € 62
    € 60 € 80 € 60
    € 35 € 80 € 35
    € 70 € 50 € 50
    € 40 € 36 € 36

    *Estimated selling Pice - Estimated selling cost and cost to complete


    € 80.00
    Item No
    1320
    1333
    1426
    1437
    1510
    1522
    1573
    1626
    Cost Per unit Net Realizable Value LCRNV Quantity Final Inventory Value
    $ 3.20 $ 2.90 $ 2.90 1200 $ 3,480.00
    $ 2.70 $ 2.40 $ 2.40 900 $ 2,160.00
    $ 4.50 $ 3.60 $ 3.60 800 $ 2,880.00
    $ 3.60 $ 1.85 $ 1.85 1000 $ 1,850.00
    $ 2.25 $ 1.85 $ 1.85 700 $ 1,295.00
    $ 3.00 $ 3.10 $ 3.00 500 $ 1,500.00
    $ 1.80 $ 1.30 $ 1.30 3000 $ 3,900.00
    $ 4.70 $ 4.50 $ 4.50 1000 $ 4,500.00
    $ 21,565.00
    NRV = Estimated selling Prize - Cost Complete and Sell
    Example $ 4,50 - $ 1,60 = $ 2,90

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