Jenks Company developed the following information about its inventories in applying the lower of cost or market( LCM) basis in valuing inventories:
Product Cost Market A $ 57,000 $ 60,000 B 40,000 38,000 C 80,000 81,000
Question 15
Nilson Company gathered the following reconciling information in preparing its August bank reconciliation:
Cash balance per books, 8 / 31 $ 21,000 Deposits in transit 900 Notes receivable and interest collected by bank 5,100 Bank charge for check printing 120 Outstanding checks 12,000 NSF check 1,020