Laurie Company Applied FIFO to Its Inventory and Got the Following

question 199

Essay

Laurie Company applied FIFO to its inventory and got the following results for its ending inventory. $\begin{array}{ll}\text { DVRs } & 140 \text { units at a cost per unit of } \$ 60 \\\text { DVD players } & 210 \text { units at a cost per unit of } \$ 75 \\\text { iPods } & 175 \text { units at a cost per unit of } \$ 80\end{array}$ The net realizable value of units at year-end was DVRs $68, DVD players $70, and iPods $76.
Instructions
Determine the amount of ending inventory at LCNRV.

Analyze the differences between general and limited partners, especially in terms of liability and management participation.

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