View the step-by-step solution to:

Presented below is information related to Flint Inc.'s inventory. (per unit) Skis Boots Parkas Historical cost$304.00 $169.60 $84.80 Selling...

Presented below is information related to Flint Inc.'s inventory.


(per unit)

Skis

Boots

Parkas

Historical cost$304.00

$169.60

$84.80

Selling price339.20

232.00

118.00

Cost to sell

30.40

12.80

4.00

Cost to complete51.20

46.40

34.00


Determine the following: the net realizable value for each item, and the carrying value of each item under LCNRV.


ItemCostNRVLCNRVSkis$

$

$

Boots



Parkas

Top Answer

Skis NRV = $257.60 LCNRV = $257.60 Boots... View the full answer

Capture.PNG

Sign up to view the full answer

Why Join Course Hero?

Course Hero has all the homework and study help you need to succeed! We’ve got course-specific notes, study guides, and practice tests along with expert tutors.

-

Educational Resources
  • -

    Study Documents

    Find the best study resources around, tagged to your specific courses. Share your own to gain free Course Hero access.

    Browse Documents
  • -

    Question & Answers

    Get one-on-one homework help from our expert tutors—available online 24/7. Ask your own questions or browse existing Q&A threads. Satisfaction guaranteed!

    Ask a Question
Ask a homework question - tutors are online