Maurice Tutor

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About Maurice Tutor

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Expertise:
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Algebra,Applied Sciences,Biology,Calculus,Chemistry,Economics,English,Essay writing,Geography,Geology,Health & Medical,Physics,Science Hide all
Teaching Since: May 2017
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Education

  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

Experience

  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Management Posted 04 Dec 2017 My Price 7.00

Santana Rey of Business Solutions

Santana Rey of Business Solutions is evaluating her inventory to determine whether it must be adjusted based on lower of cost or market rules. Business Solutions has three different types of software in its inventory and the following information is available for each.

 

 

 

 

 

Items

 

 

Inventory Units

 

 

Cost per Unit

 

 

Market Price per Unit

 

 

Office productivity

 

 

3

 

 

76

 

 

74

 

 

Desktop publishing

 

 

2

 

 

103

 

 

100

 

 

Accouting

 

 

3

 

 

90

 

 

96

 

 

 

 

 

Required:

 

 

1. Compute the lower of cost or market for ending inventory assuming Rey applies the lower of cost or market rule to inventory as a whole. Must Rey adjust the reported inventory value? Explain.

 

 

2. Assume that Rey had instead applied the lower of cost or market rule to each product in inventory. Under this assumption, must Rey adjust the reported inventory value? Explain.

Answers

Maurice Tutor
(5)
Status NEW Posted 04 Dec 2017 06:12 PM My Price 7.00

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