Panel Install Has 200 Units of Inventory That Have a Replacement

question 41

Multiple Choice

Panel Install has 200 units of inventory that have a replacement cost of $4.90 per unit.The net realizable value of the inventory also declined.Originally this inventory cost $5.50 per unit from an order of 400.What entry is required?

• A) Loss on inventory write-down \( \quad \)\( \quad \)\( \quad \)\( \quad \)\( \quad \)120
• \( \quad \)Invertory \( \quad \)\( \quad \)\( \quad \)\( \quad \)\( \quad \)\( \quad \)\( \quad \)\( \quad \)\( \quad \)\( \quad \)\( \quad \)\( \quad \)\( \quad \)\( \quad \)\( \quad \)120
• B) Inventory \( \quad \)\( \quad \)\( \quad \)\( \quad \)\( \quad \)\( \quad \)\( \quad \)\( \quad \)\( \quad \)\( \quad \)\( \quad \)\( \quad \) 120
• \( \quad \)Loss on inventorywrite-down \( \quad \)\( \quad \)\( \quad \)\( \quad \)\( \quad \)\( \quad \)\( \quad \)\( \quad \)120
• C) CLoss on inventorywrite-down \( \quad \)\( \quad \)\( \quad \)\( \quad \)\( \quad \)240
• \( \quad \)inventory \( \quad \)\( \quad \)\( \quad \)\( \quad \)\( \quad \)\( \quad \)\( \quad \)\( \quad \)\( \quad \)\( \quad \)\( \quad \)\( \quad \)\( \quad \)\( \quad \)\( \quad \)240
• D) Inventory \( \quad \)\( \quad \)\( \quad \)\( \quad \)\( \quad \)\( \quad \)\( \quad \)\( \quad \)\( \quad \)\( \quad \)\( \quad \)\( \quad \)240
• \( \quad \)Loss on inventorywrite-down \( \quad \)\( \quad \)\( \quad \)\( \quad \)\( \quad \)\( \quad \)\( \quad \)\( \quad \) 240
• E)Make no entry.

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Definitions:

Action Over Analysis

A principle favoring practical action and implementation over extensive planning and deliberation.

Resources

Various types of support and materials available for use in a project or process, including financial, human, technological, and informational assets.

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The general perception of the work environment by the employees, often related to morale, satisfaction, and effectiveness.

Collective Attitudes

Shared beliefs or evaluations by a group of people about objects, people, concepts, or situations, influencing group behavior.