- FR Assignment 1 Presentation 2019-2020 - Microsoft Word ...
90.2K
Verified Solution
Link Copied!
Question
Accounting
- FR Assignment 1 Presentation 2019-2020 - Microsoft Word Bapesar = = - - FA1 | | | | Times New Roman - 12 - | E b x x Aa - 2: || . - ... ... ... ... ... * Inventory - NRV On 1 January 2018, GP LLC purchased 15,000 tons of raw materialand recorded inventory at 10,000 USD cost per ton, which included deferral of payment to supplier for three months for an additional charge of 10 million USDand 50 million USD import taxes, 20 million USD bonus to CEO for best price attained, and 15 million USD transportation costs. Average selling cost of inventory remained 1,500 USD per ton throughout the year. balance (in | Selling ri in $) Additional information: Dates Remaining units) 01.01.2018 | 15.000 31.03.2018 12.000 | 30.06.2018 9,000 30.09.2018 6,000 | 31.12.2018 3,000 12.500 10,500 8,500 9,500 6,500 Windows 2 13oss e n : 3 8 : 2 295 () - ( 3.10 2019 Required: Compute the closing inventory on each date shown in the above table and respective gains andndows Windo losses from fluctuations in NRV. . () | 2 2 130ss 0 . . . 9. 10. 2019 : 4 8 : 2 295 3 .. . 11:32
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
