Presented below is information related to Marigold Inc.'s inventory. (per unit) Historical cost Selling price Cost to sell Cost to complete Skis $228.00 254.40 22.80 38.40 Boots $127.20 174.00 9.60 34.80 Parkas $63.60 88.50 3.00 25.50 Determine the following: the net realizable value for each item, and the carrying value of each item under LCNRV. (Round answers decimal places, e.g. 52.75.) LBU LOUBU
Presented below is information related to Marigold Inc.'s inventory. (per unit) Historical cost Selling price Cost to sell Cost to complete Skis $228.00 254.40 22.80 38.40 Boots $127.20 174.00 9.60 34.80 Parkas $63.60 88.50 3.00 25.50 Determine the following: the net realizable value for each item, and the carrying value of each item under LCNRV. (Round answers decimal places, e.g. 52.75.) LBU LOUBU
Chapter10: Inventory
Section: Chapter Questions
Problem 11PB: Calculate a) cost of goods sold, b) ending inventory, and c) gross margin for B76 Company,...
Related questions
Question
![Presented below is information related to Marigold Inc.'s inventory.
(per unit)
Historical cost
Selling price
Cost to sell
Cost to complete
Item
Skis
Boots
Parkas
Skis
$228.00
$
254.40
22.80
38.40
Boots
Cost
$127.20 $63.60
174.00
9.60
Determine the following: the net realizable value for each item, and the carrying value of each item under LCNRV. (Round answers to 2
decimal places, e.g. 52.75.)
34.80
Parkas
$
88.50
3.00
25.50
NRV
$
LCNRV](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F8728aee7-89a8-4622-85c7-8867d7660ec0%2F274d425a-44a6-4362-b6da-ae717621f4e6%2F14ygu0p.png&w=3840&q=75)
Transcribed Image Text:Presented below is information related to Marigold Inc.'s inventory.
(per unit)
Historical cost
Selling price
Cost to sell
Cost to complete
Item
Skis
Boots
Parkas
Skis
$228.00
$
254.40
22.80
38.40
Boots
Cost
$127.20 $63.60
174.00
9.60
Determine the following: the net realizable value for each item, and the carrying value of each item under LCNRV. (Round answers to 2
decimal places, e.g. 52.75.)
34.80
Parkas
$
88.50
3.00
25.50
NRV
$
LCNRV
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