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Compute the valuation for the December 31, 2011, inventory

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Compute the valuation for the December 31, 2011, inventory 1 The controller of Scheller Company is applying the lower-of-cost-or-Net realizable value basis of valuing its ending inventory. The following information is available: Cost Net Realizable Value Lawnmowers: Self-propelled $15,000 $17,000 Push type 19,000 16,000 Total 34,000 33,000 Snowblowers: Manual 30,000 31,000 Self-start 18,000 21,000 Total 48,000 52,000 Total inventory $82,000 $85,000 Instructions Compute the value of the ending inventory by applying the lower-of-cost-or- Net realizable value basis. 2 Finch Company is preparing the annual financial statements dated December 31, 2011. Information about inventory stocked for regular sale follows: Quantity Unit Cost Net Realizable Item on Hand When Acquired Value at year end A 50 €20 €19 B 100 45 45 C 20 60 62 D 40 40 37 Instructions Compute the valuation for the December 31, 2011, inventory using the lower-of-cost-or-net realizable value basis. Business Management Assignment Help, Business Management Homework help, Business Management Study Help, Business Management Course Help

Compute the valuation for the December 31, 2011, inventory

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