Business, 28.02.2020 02:23 sciencegeekgirl2017

Floyd Corporation has the following four items in its ending inventory. Item Cost Net Realizable Value (NRV) Jokers $2,000 $2,100 Penguins 5,000 4,950 Riddlers 4,400 4,625 Scarecrows 3,200 3,830 Determine the following: (a) the LCNRV for each item, and (b) the amount of write-down, if any, using (1) an item-by-item LCNRV evaluation and (2) a total category LCNRV evaluation.

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Floyd Corporation has the following four items in its ending inventory. Item Cost Net Realizable Val...

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