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Santana Rey of Business Solutions is evaluating her inventory to determine whether it must be adjusted based on lower Compute the lower of cost or market for ending

Part A Santana Rey of Business Solutions is evaluating her inventory to determine whether it must be adjusted based on lower

Part B Part A 1. & 2. Compute the lower of cost or market for ending inventory assuming Rey applies the lower of cost or mark

Part A Part B Compute inventory turnover and days sales in inventory for the three months ended March 31, 2018. Inventory Tu

Part A 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 Per Unit Inventory Items Office productivity Desktop publishing Accounting Units Cost S 76 Market $ 74 103 100 3 90 96 Required: 1. & 2. 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 and and lower of cost or market rule to each product inventory. Must Rey adjust the reported inventory value? Part B Selected accounts and balances for the three months ended March 31, 2018, for Business Solutions follow. January 1 beginning inventory Cost of goods sold March 31 ending inventory 14,052 704 Compute inventory turnover and days' sales in inventory for the three months ended March 31, 2018. Part B Part A 1. & 2. Compute the lower of cost or market for ending inventory assuming Rey applies the lower of cost or market rule to cost or market rule to each product in inventory. Must Rey adjust the reported inventory ry as a whole and lower value? BUSINESS SOLUTION S Per Unit LCM Applied To Items Inventory Items Office productivity Desktop publishing Total Cost Units Cost Market Total Market 3 76 74 2 103 100 Accounting 3 90 96 0 S Totals 0 S Lower of cost or market rule to inventory as a whole Rey must adjust the reported inventory value Lower of cost or market rule to each product in inventory Rey must adjust the reported inventory value Part A Part B Compute inventory turnover and days' sales in inventory for the three months ended March 31, 2018. Inventory Turnover Choose Denominator: Choose Numerator: Inventory Turnover = Inventory Turnover = / 0 Days' Sales in Inventory Choose Denominator: Choose Numerator: Ratio = 0 days / Part A Part B

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