Valix Finacc vol 1 Problem 7-32

Financial Accounting Volume 1 2008 Valix-Peralta
Chapter 1 Problem 7-32

                                                                   Units                Unit cost           NRV             Lower of cost or NRV

Appliances:

       A                                          500                   2,500             2,700                     1,250,000

       B                                          300                   3,700             3,600                     1,080,000

Car accessories

        C                                        600                  1,400              2,000                        840,000

        D                                         800                  2,100              2,000                     1,600,000

Valuation at lower of cost or NRV                                                                      4,770,000