Question Details

What is the lower-of-cost-or-net realizable value for product 66 



1.	Given the historical cost of product Z is $150, the selling price of product Z is $190, costs to sell product Z are $21, and the cost to complete product Z is $30, what is the net realizable value that should be used in the lower-of-cost-or-net realizable value comparison?
a.	$160.
b.	$169.
c.	$139.
d.	$150.
	2.	Given the historical cost of product Z is $150, the selling price of product Z is $190, costs to sell product Z are $11, and the cost to complete product Z is $20, what is the amount that should be used to value the inventory under the lower-of-cost-or-net realizable value method?
a.	$130.
b.	$150.
c.	$159.
d.	$139.

	3.	Given the historical cost of product Dominoe is $65, the selling price of product Dominoe is $90, costs to sell product Dominoe are $16, and the cost to complete the product is $14, what is the amount that should be used to value the inventory under the lower-of-cost-or-net realizable value method?
a.	$65.
b.	$76.
c.	$60.
d.	$74.

	4.	Robust Inc. has the following information related to an item in its ending inventory. Product 66 has a cost of $6,500, a selling price of $7,100, a cost to complete of $600, and a cost to sell of $400. What is the lower-of-cost-or-net realizable value for product 66 ?
a.	$5,900.
b.	$6,100.
c.	$6,500.
d.	$6,700.

	5.	Robust Inc. has the following information related to an item in its ending inventory. Packit (Product # 874) has a cost of $498, a selling price of $536, a cost to complete of $62, and a cost to sell of $28. What is the lower-of-cost-or-net realizable inventory value for Packit?
a.	$446.
b.	$498.
c.	$536.
d.	$474.



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