BKAR2023 FINANCIAL ACCOUNTING AND REPORTING II Please answer Not in handwriting as soon as possible,...
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BKAR2023 FINANCIAL ACCOUNTING AND REPORTING II Please answer Not in handwriting as soon as possible, (thanks in advance)
ExcelPro Bhd is a company that manufactures and distributes electrical home appliances across Malaysia and exports to over 20 countries worldwide. The company offers products that include a variety of general fans and small kitchen appliances, then it has a variety of inventories. ExcelPro follows the practice of valuing inventory at the Lower of Cost or Net Realizable Value (LCNRV). The following information is available from the companys inventory records as of 31 December 2020.
Item Quantity Cost per Unit (RM) Estimated selling Price/ Unit (RM) Completion and Selling Cost /Unit Vacuum Cleaner 300 215.00 201.90 4.60 Multi Cooker 550 108.00 196.90 8.80 Wall Fan 800 98.00 80.80 11.60 Electric Oven 230 210.00 156.70 5.70 Air Fryer 420 232.00 293.50 3.50
REQUIRED: (a) Calculate the LCNRV using the individual-item approach.
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You can see the logs in the Dashboard.