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Business, 19.03.2020 16:19 vickye146

Peterson Furniture Designs is preparing the annual financial statements dated December 31. Ending inventory information about the five major items stocked for regular sale follows:

Item Quality Unit Cost market value
Aligator armories 50 $15 $12
Bear Bureaus 75 40 40
Cougar beds 10 50 52
Dingo cribs 30 30 30
Elephant dresser 40 10 6

Compute the amount of the total write-down when the LCM/NRV rule is applied to each item.

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Peterson Furniture Designs is preparing the annual financial statements dated December 31. Ending in...
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