uop acc 290 new,uop acc 290 new,uop acc 290 new complete course,uop a ACC 290 Final Exam NEW | Page 9

Jenks Company developed the following information about its
inventories in applying the lower of cost or market (LCM) basis
in valuing inventories:
Product
A
Cost
Market
$57,000 $60,000
B 40,000 38,000
C 80,000 81,000
If Jenks applies the LCM basis, the value of the inventory
reported on the balance sheet would be
$179,000.
$175,000.
$177,000.
$181,000.
Question 15
Nilson Company gathered the following reconciling information
in preparing its August bank reconciliation:
Cash balance per books, 8/31
Deposits in transit
$21,000
900