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posted a question Jul 22, 2012 at 7:54pm
The inventory of Oheto Company on December 31, 2011, consists of the following items.

Part No. Quantity Cost per Unit Cost toReplace per Unit
110 600 $95 $100
111 1,000 60 52
112 500 80 76
113 200 170 180
120 400 205 208
a121 1,600 16 14
122 300 240 235
a Part No. 121 is obsolete and has a realizable value of $0.50 each as a scrap.
Determine the inventory as of December 31, 2011, by the lower of cost or market method, applying this method directly to each item.




Expert answered the question Jul 23, 2012 at 3:28am
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a Part No. 121 is obsolete and has a realizable value of $0.50 each as a scrap.
Determine the inventory as of December 31, 2011, by the lower of cost or market...