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Other Fields Homework Help Accounting Topic started by: H3Ko on Aug 29, 2016



Title: Madison, Inc. had the following balances and transactions during 2017.Beginning Inventory40 units at ...
Post by: H3Ko on Aug 29, 2016
Madison, Inc. had the following balances and transactions during 2017.

Beginning Inventory   40 units at $72
June 10   Purchased 120 units at $76
December 30   Sold 113 units
December 31   Replacement cost $79

The company maintains its records of inventory on a perpetual basis using the last-in, first-out inventory costing method. Calculate the amount of ending Merchandise Inventory at December 31, 2017 using the lower-of-cost-or-market rule. (Round any intermediate calculations two decimal places, and your final answer to the nearest dollar.)
A) $3,713
B) $3,572
C) $3,412
D) $2,880


Title: Re: Madison, Inc. had the following balances and transactions during 2017.Beginning Inventory40 ...
Post by: .unplugged. on Aug 29, 2016
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Title: Re: Madison, Inc. had the following balances and transactions during 2017.Beginning Inventory40 units at ...
Post by: H3Ko on Oct 12, 2016
I just realized you had posted this! Thanks so much


Title: Re: Madison, Inc. had the following balances and transactions during 2017.Beginning Inventory40 ...
Post by: M Greuling on Dec 10, 2019
thank


Title: Re: Madison, Inc. had the following balances and transactions during 2017.Beginning Inventory40 ...
Post by: j-sizzle4 on Dec 12, 2019
ty


Title: Re: Madison, Inc. had the following balances and transactions during 2017.Beginning Inventory40 ...
Post by: Yvonne Freeman on Feb 22, 2020
ty


Title: Re: Madison, Inc. had the following balances and transactions during 2017.Beginning Inventory40 ...
Post by: Akiumi Shimokaw on Jun 22, 2020
Thank you