Business, 04.07.2020 22:01 ghlin96

Decker Company has five products in its inventory. Information about the December 31,2016, inventory follows:Product Quantity Unit Cost Unit Selling PriceA 1,200 $14 $20B 1,000 19 22C 800 5 10D 400 9 8E 800 18 17The cost to sell for each product consists of a 10 percent sales commission. Required:1. Determine the book value of the inventory at December 31, 2016, assuming the lower of cost and net realizable value rule is applied to individual products. Product (units) Cost NRV Inventory ValueA (1,200) $16,800 $16,800B (1,000) 19,000 19,000C (800) 4,000 4,000D (400) 3,600 E (800) 14,400 $57,800 $ $39,8002. Determine the book value of inventory at December 31, 2016, assuming the lower of cost and net realizable value rule is applied to the entire inventory. Also assuming that Decker reports an inventory write-down as a line item in the income statement, determine the amount of the loss. Inventory book value Loss from inventory write-down

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Decker Company has five products in its inventory. Information about the December 31,2016, inventory...

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