Solution-Find the correct amount of inventory

Find the correct amount of inventory

Assignment Help Cost Accounting

Reference no: EM132861724

Problem - Entity A's inventories on December 31, 20x1 have a cost of P1 00,000 and a net realizable value of 80,000. Accordingly, Entity A recognized a write-down of inventories of 20,000. Shortly after December 31, 20x1, but before the financial statements were authorized for issue, the inventories were sold for a net sale proceeds of 70,000. Find the correct amount of inventory write-down to be reported in Entity A's December 31, 20x1 financial statements?

Reference no: EM132861724

Questions Cloud

Which option would you pick if you were CFO of the company : The firm also contacted an investment bank, which predicted, Which option would you pick if you were the CFO of the company

What is the current yield or cost of preferred stock : The stock provided an 8% yield at the time of issue. The preferred stock is now selling for $75. What is the current yield or cost of preferred stock

What is the ending inventory using the average cost method : Sales for the year totaled 266 units, leaving 20 units on hand at the end of the year. What is the ending inventory using the average cost method

Do brands matter during pandemic : What kind of brand communications have you received since the start of lockdown? Have they struck you as appropriate or inappropriate considering the context?

Find the correct amount of inventory : Entity A's inventories on December 31, 20x1 have a cost of P1 00,000. Find the correct amount of inventory write-down to be reported

Tesla vs toyota competitive analysis : Evaluate the extent of differences or similarities in the two strategies.

What is the share option gain to be included in the income : Mr. Chan exercised the share option in March this year when the market price of the shares was $15 each. What is the share option gain to be included in income

Explain the role that community level constructs : Explain the role that community level constructs you've learned about in this course have on that behavior?

Describe the requirements to sit for the CPA exam in Kansas : Describe the requirements to sit for the CPA exam in Kansas. Compare Kansas' requirement to at least one other state

User Account

All Pages

Find the correct amount of inventory

Reference no: EM132861724

Reference no: EM132861724

Questions Cloud

Reviews

Write a Review

Cost Accounting Questions & Answers

Cost accounting assignment

Prepare the journal entries

Advise as to the liability of all the parties

Prepare revenues budget

Effect of exchange rate changes on cash and cash

Corporate governance

Cost-benefit analysis

Non-annual interest rates and annuities

Job costing in service organizations

Accounting for bad debt expense

Accounting and partnership problems

Development of relevant cash flows

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT