Accounting Problems

10/10/19, 10'20 PMBrief Exercise 9-2

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Print by: Crismaldy Ventura ACC304011VA016-1198-001: Intermediate Accounting II / HOMEWORK - CHAPTER 09 - ACC304

*Brief Exercise 9-2 Coronado Corporation has the following four items in its ending inventory.

Item Cost Net Realizable Value (NRV)

Jokers $2,840 $2,982

Penguins 7,100 7,029

Riddlers 6,248 6,568

Scarecrows 4,544 5,439

Determine the following the LCNRV for each item.

Item LCNRV

Jokers $

Penguins

Riddlers

Scarecrows

(1) Determine the amount of write-down, if any, using an item-by-item LCNRV evaluation. (If no write-down, enter 0 for the amounts.)

Item Write-down

Jokers $

Penguins

Riddlers

Scarecrows

(2) Determine a total category LCNRV evaluation. (If no write-down, enter 0 for the amount.)

Total category LCNRV $

10/10/19, 10'20 PMBrief Exercise 9-2

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