Find what unit value should oslo use for product one and two

Assignment Help Accounting Basics

Reference no: EM131933380

Problem

Oslo Corporation has two products in its ending inventory, each accounted for at the lower of cost or market. A profit margin of 30% on selling price is considered normal for each product. Specific data with respect to each product follows:

	Product #1	Product #2
Historical cost	$10	$ 18
Replacement cost	11	14
Estimated cost to dispose	3	7
Estimated selling price	20	33

In pricing its ending inventory using the lower-of-cost-or-market, what unit values should Oslo use for products #1 and #2, respectively?

Reference no: EM131933380

Questions Cloud

What does the civil litigant hope to achieve by taking : What does the court hope to achieve when imposing a criminal sentence?What does the civil litigant hope to achieve by taking a case to court?

Prepare the journal entries needed on the books : On April 1, 2017, Kingbird Company sold 21,600 of its 10%, 15-year, $1,000 face value bonds at 97. Interest payment dates are April 1 and October 1.

Triple constraints of a project : The scope of the project, one of the triple constraints of a project, describes in detailed the outcome of the project

What differences exist between metrics and analytics : What differences exist between metrics and analytics that focus on HR efficiency, operational effectiveness and organizational realignment?

Find what unit value should oslo use for product one and two : In pricing its ending inventory using the lower-of-cost-or-market, Find what unit values should Oslo use for products #1 and #2, respectively?

What are some labor-related factors that would favor canada : What are some labor-related factors that would favor Canada as the location of the new facility? Or Mexico for that matter?

Construct the payoff table for this problem : Develop a decision analysis formulation for this problem (define the states of nature, the alternatives, and the payoff table.

Stephen coveys the 7 habits of highly effective people : Write a 3,000 word response to Stephen Coveys The 7 Habits of Highly Effective People - Provide a personal response to the books ideas

Prepare journal entries to update depreciation : Ottawa Corporation owns machinery that cost $62,860 when purchased. Prepare journal entries to (a) update depreciation for 2015 and (b) record the sale.

User Account

All Pages