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Chapter 9 Homework

# Chapter 9 Homework - Final Chapter 9 Inventories Additional...

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Chapter 9: Inventories: Additional Valuation Issues Tiffany Watt Homework November 3, 2010 AC 301 – 01 Brief Exercises BE9-1 (a) Skis – selling price \$217. 00 Less: Cost to distribute 19.00 Net realizable value (Ceiling) 198.0 0 Less: Normal profit margin 32.00 Net realizable value less a normal profit margin (Floor) \$166. 00 (b) Net Realizable Net Value Less a Realizabl e Normal Profit Designat ed Replaceme nt Value Margin Market Inventory Cost (Ceiling) (Floor) Value Boots \$105 \$137 \$108 \$108 Designated Market Value Decision: Boot s Net realizable value less a normal profit margin is selected because it is the middle value. (c) Net Realizable Net Value Less a Realizable Normal Profit Replacem ent Value Margin Inventory Cost Cost (Ceiling) (Floor) Parkas \$53 \$51 \$71.25 \$50 Designated

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Unformatted text preview: Final Chapter 9: Inventories: Additional Valuation Issues Tiffany Watt Homework November 3, 2010 AC 301 – 01 Market Inventory Value Value \$51 \$51 Final Inventory Value: Parkas Designated market value (Replacement cost, \$51) is selected because it is lower than cost. Chapter 9: Inventories: Additional Valuation Issues Tiffany Watt Homework November 3, 2010 AC 301 – 01 BE9-4 Number Sales Total Relati ve of Price Sales Sales Total Groups CDs Per CD Price Price Cost 1 100 \$5.00 \$500 5/100 \$6,000 2 800 10.00 8,000 80/10 6,000 3 100 15.00 1,500 15/10 6,000 \$10,000 Cost Cost Allocate d Per to CDs CD \$300 \$3.00 4,800 6.00 900 9.00 \$6,000...
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Chapter 9 Homework - Final Chapter 9 Inventories Additional...

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