Accounting 2 Problems
Item Cost Replacement Cost Net Realized Value NVR less Normal Profit
(NVR) Margin
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Jokers 2,000 2,050 2,100 1,600
Penguins 5,000 5,100 4,950 4,100
Riddlers 4,400 4,550 4,625 3,700
Scarecrows 3,200 2,990 3,830 3,070
Determine the final lower-of-market inventory value for each item
Jokers
Penguins
Riddlers
Scarecrows
Bell, Inc. buys 1,000 computer game CDs from a distributor who is discounting those games. The purchase price for the lot is 8,000. Bell will group the CDs into three price categories for resale, as indicated below
Group No. of CDs Price per CD
1 100 5.00
2 800 10.00
3 100 15.00
Determine the cost per CD for each group, using the relative sales value method
Group Cost per CD
1
2
3
