CH_9_BOOK_PROBLEMS_SOLUTIONS

CH_9_BOOK_PROBLEMS_SOLUTIONS - EXERCISE 9-3 (1520 minutes)...

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EXERCISE 9-3 (15–20 minutes) Item No. Cost per Unit Replacement Cost Net Realizable Value Net Real. Value Less Normal Profit Designated Market Value LCM Quantity Final Inventory Value 1320 $3.20 $3.00 $4.15* $2.90** $3.00 $3.00 1,200 $ 3,600 1333 2.70 2.30 2.90 2.40 2.40 2.40 900 2,160 1426 4.50 3.70 4.60 3.60 3.70 3.70 800 2,960 1437 3.60 3.10 2.75 1.85 2.75 2.75 1,000 2,750 1510 2.25 2.00 2.45 1.85 2.00 2.00 700 1,400 1522 3.00 2.70 3.50 3.00 3.00 3.00 500 1,500 1573 1.80 1.60 1.75 1.25 1.60 1.60 3,000 4,800 1626 4.70 5.20 5.50 4.50 5.20 4.70 1,000 4,700 *** $23,870 *$4.50 – $.35 = $4.15. **$4.15 – $1.25 = $2.90. ***Cost is used because it is lower than designated market value
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EXERCISE 9-18 (20–25 minutes) (a) Cost Retail Beginning inventory. ...................................... $ 58,000 $100,000 Purchases. ....................................................... 122,000 200,000 Net markups. ................................................... 20,000 Totals. ..................................................... $180,000
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CH_9_BOOK_PROBLEMS_SOLUTIONS - EXERCISE 9-3 (1520 minutes)...

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