Cruz Video Center Accumulates The Following Cost And Net Realizable Data At Dece

Cruz Video Center accumulates the following cost and net realizable data at December 31.

Inventory Categories  Cost Data     Net Realizable Value Data

Cameras                       $17,100                 $17528

Camcorders                  13, 538                      13,823

Blu-Ray players             19,950                     18,383

Compute the lower-of-cost-or-net realizable value valuation for the company’s total inventory.

The lower-of-cost-or-net realizable value    _________?

  1. Rosario Department Store uses a perpetual inventory system. Data for product E2-D2 include the following purchases.

Date      Number of Units      Unit Price

May 7      228                           $10

July 28      137                           13

On June 1, Rosario sold 119 units, and on August 27, 182 more units.

Prepare the perpetual inventory schedule for the above transactions using FIFO

Date      Purchases     Cost of Goods Sold    Balance

May 7      ______          ________                   ______

June1

June 28

Aug 27

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