Sunland Company uses the LCNRV method, on an individual-item basis, in pricing its inventory items. The inventory at December 31, 2017, consists of products D, E, F, G, H, and I. Relevant per unit data for these products appear below.
Item D Item E Item F Item G Item H Item I
Estimated selling price $142 $130 $112 $106 $130 $106
Cost 89 94 94 94 59 42
Cost to complete 35 35 30 41 35 35
Selling costs 12 21 12 24 12 24
Using the LCNRV rule, determine the proper unit value for balance sheet reporting purposes at December 31, 2017, for each of the inventory items above.
Item D $
Item E $
Item F $
Item G $
Item H $
Item I $

Item D $124 (cost)

Item E $109 (NRV)

Item F $100 (NRV)

Item G $82 (NRV)

Item H $94 (Cost)

Item I $77 (Cost)

Explanation:

Sunland Company uses the LCNRV method.

The LCNRV is a generally acceptable Accounting Practice rule which states that items of stock should be valued at the lower of:

i. Cost of purchasing the stock items or

ii. The net realizable value of the stock items at their current state.

Records that will go to the balance sheet in the case of this firm is :

Step: determine the costs and Net realizable Value based on each item:

D: Cost = $89

Add cost to complete = $35

Total cost = $124

D: Net Realizable value:

Selling price = $142

Less Selling costs = $12

Net realizable value = $130.

For D we go with Cost which is lower ($124)

E: Cost = $94

Add cost to complete = $35

Total cost = $129

E: Net Realizable value:

Selling price = $130

Less Selling costs = $21

Net realizable value = $109.

For E we go with Net Realizable Value, which is lower ($109)

F: Cost = $94

Add cost to complete = $30

Total cost = $124

F: Net Realizable value:

Selling price = $112

Less Selling costs = $12

Net realizable value = $100.

For F we go with Net Realizable Value, which is lower ($100)

G: Cost = $94

Add cost to complete = $41

Total cost = $135

G: Net Realizable value:

Selling price = $106

Less Selling costs = $24

Net realizable value = $82.

For G we go with Net Realizable Value, which is lower ($82)

H: Cost = $59

Add cost to complete = $35

Total cost = $94

H: Net Realizable value:

Selling price = $130

Less Selling costs = $12

Net realizable value = $118.

For H we go with Cost, which is lower ($94)

I: Cost = $42

Add cost to complete = $35

Total cost = $77

I: Net Realizable value:

Selling price = $106

Less Selling costs = $24

Net realizable value = $82

For I we go with Cost, which is lower ($77)

sound is invisible, but sometimes we can feel it. when a kettle-drum is thumped with a stick that time the tight drum skin moving up and down very quickly for some time and then it pumped sound waves into the air. loudspeakers also work in a similar manner.

components of a speaker:

electromagnet

in order to translate an electrical signal into an audible sound, an electromagnet is used in looudspeakers

  suspension

suspension is used to   center the voice coil in the gap of the magnet and it exerts a restoring force to keep it there. suspension is used to limits the maximum mechanical excursion of the diaphragm and voice coil.

voice coil

voice coil is a coil of wire which is attached to the apex of a loudspeaker cone. it provides the motive force to the cone by the reaction of a magnetic field to the current passing through it.

cone

in a   loudspeaker, a   thin, semi-rigid membrane attached to the voice coil, which moves in a magnetic gap due to which it vibrates   and produced sound. it is known as diaphragm and it can also be called a cone, though not all speaker diaphragms are cone-shaped.

surround

surround is also known as front suspension. surround is used to join the cone to the chassis. together with the suspension it controls the cone excursion, and it is also used to   determine how energy which is   travelling through the cone is absorbed, and how the speaker limits when it reaches the ends of its travel.

dustcap

dustcap is used to protect the voice coil from dust and dirt. it is a part of the cone.

how speaker work

the outer part of the cone is fastened to the outer part of the loudspeaker's circular metal rim. the inner part is fixed to   voice coil that sits just in front of a permanent magnet . when loudspeaker is hooked up to a stereo, electrical signals feed through the speaker cables into the coil. it will convert the coil into an electromagnet magnet . when electricity flows back and forth in the cables, the electromagnet either repels or attract the permanent magnet. this moves the coil back and forth, and it pull and push the loudspeaker cone. like a drum skin vibrating back and forth, the moving cone pumps sounds out into the air.in this way loudspeakers works.

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