How JustAnswer Works:

  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.

Ask Manal Elkhoshkhany Your Own Question

Manal Elkhoshkhany
Manal Elkhoshkhany, Tutor
Category: Homework
Satisfied Customers: 9825
Experience:  More than 5000 online tutoring sessions.
3708793
Type Your Homework Question Here...
Manal Elkhoshkhany is online now
A new question is answered every 9 seconds

Riegel Company uses the lower-of-cost-or-market method, on

Resolved Question:

Riegel Company uses the lower-of-cost-or-market method, on an
Individual-item basis, in pricing its inventory items. The inventory
at December 31, 2011, consists of products D, E, F, G, H, and I.
Relevant per-unit data for these products appear below.

Item D Item E Item F Item G Item H Item I
Estimated selling proce $120 $110 $95 $90 $110 $90
Cost 75 80 80 80 50 36
Replacement cost 120 72 70 30 70 30
Estimated selling expense 30 30 35 35 30 30
Normal profit 20 20 20 20 20 20

Using the lower-of-cost-or-market rule, determine the proper unit value
for balance sheet reporting purposes at December 31, 2011 for each of
the inventory items above.
Submitted: 6 years ago.
Category: Homework
Expert:  Manal Elkhoshkhany replied 6 years ago.
THIS ANSWER IS LOCKED!

You need to spend $3 to view this post. Add Funds to your account and buy credits.
Manal Elkhoshkhany and other Homework Specialists are ready to help you

Related Homework Questions