bchap
Mar 26, 2012, 09:59 AM
Ending inventory 12/31/11 1263 units @ $782 ea. For a total of 987,666
Net Realizable Value $775 ea.
Net Realizable Value less normal margin $745 ea.
There's a vendor invoice dated 1/5/12 for 500 units at $750 ea. goods received 1/7/12
What's the adjusting entry for the inventory ending 12/31/11?
Net Realizable Value $775 ea.
Net Realizable Value less normal margin $745 ea.
There's a vendor invoice dated 1/5/12 for 500 units at $750 ea. goods received 1/7/12
What's the adjusting entry for the inventory ending 12/31/11?