ACT3391HomeworkFall2009items29to34

ACT3391HomeworkFall2009items29to34 - HOMEWORK Fall 2009 ALL...

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HOMEWORK - Fall 2009 ALL homework assignments must be completed by using some type of computer software program, e.g., word, excel. YOU WILL NOT RECEIVE FULL CREDIT FOR THE HOMEWORK UNLESS IT IS COMPLETED BY USING A COMPUTER. NO CREDIT WILL BE GIVEN FOR LATE HOMEWORK. As discussed during class, you can work on these homework assignments in groups or as an individual. 29. (2 points) The December 31, 2010 inventory of Gwynn Company consisted of four products, for which certain information is provided below. Replacement Estimated Expected Normal Profit Product Original Cost Cost Disposal Cost Selling Price on Sales A $25.00 $22.00 $6.50 $40.00 20% B $42.00 $40.00 $12.00 $48.00 25% C $120.00 $115.00 $25.00 $190.00 30% D $18.00 $15.80 $3.00 $26.00 10% Using the lower-of-cost-or-market approach applied on an individual-item basis, compute the inventory valuation that should be reported for each product on December 31, 2010. 30. (1.5 points)
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This note was uploaded on 03/03/2011 for the course ACCT 3391 taught by Professor Turpin during the Spring '10 term at Troy.

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ACT3391HomeworkFall2009items29to34 - HOMEWORK Fall 2009 ALL...

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