oct23 - Allowance to reduce inventory to market 1400 Apr 30...

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Michael McCormick ACG 3103 E9-3 replacement NRV: Less Market Total Item No. cost cost NRV Profit Margin Value Inventory 1320 3840 3600 4980 3480 3600 3600 1333 2430 2070 2700 2250 2250 2250 1426 3600 2960 3680 2880 2960 2960 1437 3600 3100 2950 2050 2950 2950 1510 1575 1400 1715 1295 1400 1400 1522 1500 1350 1700 1450 1450 1450 1573 5400 4800 5250 3750 4800 4800 1626 4700 5200 5500 4500 5200 4700 Total Inventory 24110 E9-5 (a) Jan. 31 Feb. 28 Mar. 31 Apr. 30 Sales 29000 35000 40000 COGS -21900 -21000 -29800 Gross 7100 14000 10200 Loss/Gain -500 -2500 -1400 -700 26500 33600 39300 (b) 31-Jan Loss due to market decline of inventory 500 Allowance to reduce inventory to market 500 28-Feb Loss due to market decline of inventory 2500 Allowance to reduce inventory to market 2500 31-Mar Loss due to market decline of inventory 1400
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Unformatted text preview: Allowance to reduce inventory to market 1400 Apr. 30 Loss due to market decline of inventory 700 Allowance to reduce inventory to market 700 E9-13 beginning inventory 38000 Inventory purchases 72000 sales 100000 freight-in 3400 G.P.-33330 returns-2400 appproximate Ending inventory 111000 inventory at cost lost from fire 100100 salvaged inventory 10900 a. $37,100 b. $33,430 Michael McCormick ACG 3103 P9-1 Cost R.C. NRV NRV-GP Amount shown on balance she A 470 460 405 324 405 B 450 440 420 336 420 C 830 610 810 648 648 D 960 1000 920 736 920 Michael McCormick ACG 3103 111000-66670 44330 Michael McCormick ACG 3103 eet...
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This note was uploaded on 07/04/2011 for the course ACG 101 taught by Professor Burnett during the Spring '09 term at Edison State College.

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oct23 - Allowance to reduce inventory to market 1400 Apr 30...

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