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  • Reviewer LCNRV

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    edrianclyde
    19 views3 pages
    The document shows inventory data for three categories including cost, net realizable value (NRV), and lowest NRV (LCNRV) for each item. It then calculates the LCNRV individually and by category. The total LCNRV by category is 7960000. The total cost and NRV for all inventory is 8000000 and 8100000 respectively.

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    reviewer lcnrv

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    The document shows inventory data for three categories including cost, net realizable value (NRV), and lowest NRV (LCNRV) for each item. It then calculates the LCNRV individually and by category. The total LCNRV by category is 7960000. The total cost and NRV for all inventory is 8000000 and 8100000 respectively.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
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    Download as docx, pdf, or txt
    19 views3 pages

    Reviewer LCNRV

    Uploaded by

    edrianclyde
    The document shows inventory data for three categories including cost, net realizable value (NRV), and lowest NRV (LCNRV) for each item. It then calculates the LCNRV individually and by category. The total LCNRV by category is 7960000. The total cost and NRV for all inventory is 8000000 and 8100000 respectively.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
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    of 3

    Cat 1 cost nrv Lcnrv (yung maliit)

    110000 100000 100000

    690000 750000 690000

    600000 640000 600000

    1400000 1490000

    Cat 2

    2000000 1900000 1900000

    1500000 1560000 1500000

    3500000 3460000

    Cat 3

    1500000 1460000 1460000

    1600000 1690000 1600000

    3100000 3150000

    8000000 8100000 7850000

    Lcnrv individual 7850000


    cost nrv lcnrv
    1400000 1490000 1400000
    3500000 3460000 3460000
    3100000 3150000 3100000
    Lcnrv by category 7960000

    cost nrv lcnrv


    Lcnrv by total 8000000 8100000 8000000

    Cost

    (net realizable value)

    Inv. Witedown

    Allowance method

    Cost

    (nrv)

    Req. allow

    Less: allow bal. (writedown)

    Decrease in allowance

    Direct method

    Inv

    (inv. Writedown)

    Nrv
    Direct method

    Inv.

    Net purch

    Gas

    Inv. End

    Cogs

    Allowance method

    Inv. Beg

    Net purch

    Gas

    Inv. End

    Cogs bef. Inv. Writedown

    Loss on iw

    Cogs after iw

    Req. allow(cost-nrv end)

    Req. allowance (cost-nrv beg)

    Inc. in allowance – loss on writedown

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