For September, the cost to desalinate 326,000 gallons of seawater was $97,500. Production and sales...
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Accounting
For September, the cost to desalinate 326,000 gallons of seawater was $97,500.
Production and sales data are as follows:
Measure
Production
Sales
Sales price
Drinking water
Gallons
325,000
300,000
$0.75
Salt
Pounds
10,000
6,500
0.50
There were no beginning inventories at 9/1.
9. What is the gross profit for September under the Net Realizable Value method?
10. What is the gross profit for September under the Manufacturing Cost Reduction method?
11. What is the total inventory value at 9/30 under the Net Realizable Value method?
12. What is the total inventory value at 9/30 under the Manufacturing Cost Reduction metho
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