what is a fixed income​

Answers

Answer 1
Fixed income broadly refers to those types of investment security that pay investors fixed interest or dividend payments until its maturity date. At maturity, investors are repaid the principal amount they had invested. Government and corporate bonds are the most common types of fixed-income products.

Related Questions

Based on the following information from Scranton Company's balance sheet, calculate the current ratio.

Current assets $87,000
Investments 50,000
Plant assets 220,000
Current liabilities 39,000
Long-term liabilities 90,000
Retained earnings 228,000

Answers

Answer:

2.23

Explanation:

Calculation to determine the current ratio

Using this formula

Current Ratio = Current Assets / Current Liabilities

Where,

Current Assets = $87,000

Current Liabilities = $39,000

Let plug in the formula

Current Ratio = $87,000 / $39,000

Current Ratio = 2.23

Therefore Current Ratio is 2.23

MC Qu. 90 Sea Company reports the following information... Sea Company reports the following information regarding its production costs: Units produced 46,000units Direct labor$39per unit Direct materials$32per unit Variable overhead$21per unit Fixed overhead$115,000in total Compute the product cost per unit under absorption costing.

Answers

Answer:

Unit product cost= $94.5

Explanation:

The absorption costing method includes all costs related to production, both fixed and variable. The unit product cost is calculated using direct material, direct labor, and total unitary manufacturing overhead.

Unit product cost= direct material + direct labor + total unitary overhead

Total unitary overhead= 115,000 / 46,000= $2.5

Unit product cost= 39 + 32 + 21 + 2.5

Unit product cost= $94.5

Clonex Labs, Incorporated, uses the weighted-average method in its process costing system. The following data are available for one department for October:

Units Percent Completed Materials Conversion Work in process,
October 1 49,000 90% 60%
Work in process, October 31 27,000 69% 46%

The department started 389,000 units into production during the month and transferred 411,000 completed units to the next department.

Required:
Compute the equivalent units of production for October. Show your complete solution.

Answers

Answer:

Materials 429,630

Conversion 423,420

Explanation:

Computation for the equivalent units of production for October.

MATERIALS

Equivalent units of production= 411,000 + (27,000*69%)

Equivalent units of production=411,000 + 18,630

Equivalent units of production= 429,630

CONVERSION

Equivalent units of production= 411,000 +(27,000*46%)

Equivalent units of production =411,000+12,320

Equivalent units of production= 423,420

Therefore the equivalent units of production for October is:

Materials 429,630

Conversion 423,420

According to this __________ perspective, international trade is unfair. The international system is inherently biased against developing countries.

Answers

Answer:

structuralism

Explanation:

The theory approach with respect to the social structure is known as the structuralism that studied the non-conscious regularities of expression done by the human i.e. it is non-observable structure that contains observable impact on the behavior, society & the culture

So as per the given situation, it is a structuralism

And, the same should be considered

Chabot Company had the following results last year: net operating income, $2,160; turnover, 5; and return on investment 18%. Chabot Company's average operating assets were: a. $300,000. b. $60,000. c. $10,800. d. $12,000.

Answers

should be b! hope this helps

NAME During August, the following transactions were recorded at Gurdeep Corporation. The company uses process costing. (1) Raw materials that cost $24,500 are withdrawn from the storeroom for use in the Assembly Department. All of these raw materials are classified as direct materials. (2) Direct labor costs of $29,000 are incurred, but not yet paid, in the Assembly Department. (3) Manufacturing overhead of $58,900 is applied in the Assembly Department using the department's predetermined overhead rate. (4) Units with a carrying cost of $101,200 finish processing in the Assembly Department and are transferred to the Painting Department for further processing. (5) Units with a carrying cost of $106,100 finish processing in the Painting Department, the final step in the production process, and are transferred to the finished goods warehouse. (6) Finished goods with a carrying cost of $95,100 are sold. Required: Prepare journal entries for each of the transactions listed above. Account Description Debit $ Credit $ (1) To record direct materials issued to production Account Description Debit $ Credit $ (2) To record direct labor costs incurred but not paid. Account Description Debit $ Credit $ (3) To record application of manufacturing overhead Account Description Debit $ Credit $ (4) To record cost of goods completed by Assembly and transferred to Painting Account Description Debit $ Credit $ (5) To record cost of goods completed in Painting and transferred to Finished Goods warehouse Account Description Debit $ Credit $ (6) To record cost of goods sold

Answers

Answer:

Gurdeep Corporation

Journal Entries:

Account Titles                             Debit           Credit

(1) Work in Process (Assembly) $24,500

Raw Materials                                               $24,500

To record direct materials issued to production.

Account Titles                             Debit           Credit

(2) Work in Process (Assembly) $29,000

Payroll Payable                                             $29,000

To record direct labor costs incurred but not paid.

Account Titles                             Debit           Credit

(3) Work in Process (Assembly) $58,900

Manufacturing Overhead                             $58,900

To record application of manufacturing overhead.

Account Titles                             Debit           Credit

(4) Work in Process (Painting) $101,200

Work in Process (Assembly)                          $101,200

To record cost of goods completed by Assembly and transferred to Painting.

Account Titles                             Debit           Credit

(5) Finished Goods Inventory $106,100

Work in Process (Painting)                            $106,100

To record cost of goods completed in Painting and transferred to Finished Goods warehouse.

Account Titles                             Debit           Credit

(6) Cost of Goods Sold            $95,100

Finished Goods Inventory                           $95,100

To record cost of goods sold

Explanation:

a) Data and Analysis:

(1) Work in Process (Assembly) $24,500 Raw Materials $24,500

(2) Work in Process (Assembly) $29,000 Payroll Payable $29,000

(3) Work in Process (Assembly) $58,900 Manufacturing Overhead $58,900

(4) Work in Process (Painting) $101,200 Work in Process (Assembly) $101,200

(5) Finished Goods Inventory $106,100 Work in Process (Painting) $106,100

(6) Cost of Goods Sold $95,100 Finished Goods Inventory $95,100

Lusk Corporation produces and sells 15,400 units of Product X each month. The selling price of Product X is $24 per unit, and variable expenses are $18 per unit. A study has been made concerning whether Product X should be discontinued. The study shows that $73,000 of the $104,000 in monthly fixed expenses charged to Product X would not be avoidable even if the product was discontinued. If Product X is discontinued, the annual financial advantage (disadvantage) for the company of eliminating this product should be:_______.
a. ($61,400)
b. $11,600
c. $42,600
d. ($42,600)

Answers

Answer: A

Explanation: 61,400 hope you have a great day

Given the following data, compute overhead applied and the under- or overapplication of overhead for the period:

Estimated annual overhead cost $1700000
Actual annual overhead cost $1675000
Estimated machine hours 200000
Actual machine hours 190000

Answers

Answer:

Underapplied overhead= $60,000

Explanation:

Giving the following information:

Estimated annual overhead cost $1700000

Actual annual overhead cost $1675000

Estimated machine hours 200000

Actual machine hours 190000

First, we need to calculate the predetermined overhead rate:

Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

Predetermined manufacturing overhead rate= 1,700,000 / 200,000

Predetermined manufacturing overhead rate= $8.5 per machine hour

Now, we can allocate overhead:

Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base

Allocated MOH= 8.5*190,000

Allocated MOH= $1,615,000

Finally, the over/under allocation:

Under/over applied overhead= real overhead - allocated overhead

Under/over applied overhead= 1,675,000 - 1,615,000

Underapplied overhead= $60,000

A company purchased $1,800 of merchandise on July 5 with terms 2/10, n/30. On July 7, it returned $200 worth of merchandise. On July 28, it paid the full amount due. Assuming the company uses a perpetual inventory system, and records purchases using the gross method, the correct journal entry to record the merchandise return on July 7 is:

Answers

Answer:

Date   Account Titles and Explanation       Debit    Credit

          Accounts Payable                              $1,600

          ($1,800 - $200)

                 Merchandise inventory                             $32

                 (2% * $1,600)

                 Cash                                                           $1,568

          (To record  the merchandise return)

A company purchased $1,800 of merchandise on July 5 with terms 2/10, n/30. On July 7, it returned $200 worth of merchandise. On July 28, it paid the full amount due. Assuming the company uses a perpetual inventory system, and records purchases using the gross method.

The journal entry to record the merchandise return on July 7 using the perpetual inventory system and the gross method would be as follows:

Date: July 7

Merchandise Returns and Allowances $200

Accounts Payable $200

Explanation:

The Merchandise Returns and Allowances account is used to record returns of merchandise to the supplier. By crediting the Accounts Payable account, it reduces the amount owed to the supplier for the returned merchandise.

In this entry, the company is reducing the Accounts Payable by $200 due to the returned merchandise worth $200.

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Grays Company uses a perpetual inventory system. On May 1, the company had inventory of 20 units at a cost of $8 each. On May 3, it purchased 30 units at $10 each. 22 units are sold on May 6. Under the weighted average inventory costing method, what amount will be reported as cost of goods sold for the 22 units that were sold

Answers

Answer: $9.20

Explanation:

Using the weighted average inventory costing method, the price is abased on the number of units and their price.

The above inventory cost would be calculated as follows:

= [ (Opening units * Cost of units) + (Units purchased * Cost of purchase) ] / Total units in inventory

= [ (20 * 8) + (30 * 10) ] / (20 units + 30 units)

= [ 160 + 300 ] / 50

= $9.20

Trey Morgan is an employee who is paid monthly. For the month of January of the current year, he earned a total of $4,538. The FICA tax for social security is 6.2% of the first $128,400 earned each calendar year, and the FICA tax rate for Medicare is 1.45% of all earnings for both the employee and the employer. The amount of federal income tax withheld from his earnings was $680.70. His net pay for the month is:_________
A) $3,857.30
B) $3,510.14
C) $4,538.00
D) $3,162.98
E) $4,190.84

Answers

Answer: $3,510.14

Explanation:

Trey Morgan's net pay will be amount remaining after deducting the FICA taxes for Social security and Medicare and the Federal income tax withheld.

The net pay is therefore:

= 4,538 - (4,538 * 6.2%) - (4,538 * 1.45%) - 680.70

= 4,538 - 281.356 - 65.801 - 680.70

= $3,510.14

which of the following would most likely be considered a short term goal

Answers

Bakeing 24 cookies for tomorrows bakesale

Finish knitting a quilt by this sunday

ect

When Susan, the CEO of Gregarious Simulation Systems, expanded her operations to a different international market, she was surprised to see how little competition she faced. In her home country, the competition for simulation systems is incredibly fierce. As a result of her international expansion, her firm has been able to easily position themselves as a major player. Which of the four categories of Porter's Diamond framework best explains this advantage?

a. competitive intensity in the focal industry
b. related and supporting industries/complementors
c. demand conditions
d. factor conditions

Answers

Answer: A competitive intensity in the focal industry.

Explanation:

Porter's competitive intensity explains the level of rivalry that exists in a particular industry. The competitive intensity is influenced by different factors, such as the fixed cost, concentration of the industry, switching cost, rate of industrial growth etc.

Therefore, from the information given, since the company expanded her operations to a different international market, and the subsequent little competition that was faced, this is explained by the competitive intensity in the focal industry.

Therefore, the correct option is A.

Katrina needs to use her communication and conflict management skills every day with her team. What stage of development is her team in?​

Answers

Answer:

forming

Explanation:

Storming - stage 2

Decisions don't come easily within group. Team members vie for position as they attempt to establish themselves in relation to other team members and the leader, who might receive challenges from team members. Clarity of purpose increases but plenty of uncertainties persist. Cliques and factions form and there may be power struggles. The team needs to be focused on its goals to avoid becoming distracted by relationships and emotional issues. Compromises may be required to enable progress. Leader coaches (similar to Situational Leadership® 'Selling' mode).

As per the description provided, the stage of team development at which Katrina's team would be:

- Storming stage

The team development has been divided into five stages:

FormingStormingNormingPerformingAdjourning

The storming stage is described as the stage where every member comes up with his/her ideas and attempts to impress their peers.

This leads to competition among the members of the team and the development of conflicts.

Therefore, the leaders like Katrina intrude in order to resolve the disagreements and handle competition to ensure that the project goes in the right direction.

Thus, the 'storming' stage is the correct answer.

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Both IFRS and U.S. GAAP allow deferred taxes to be: presented as noncurrent on the balance sheet. measured using a substantially enacted tax rate. recognized in equity after a fixed asset revaluation.

Answers

Answer:

presented as noncurrent on the balance sheet.

Explanation:

GAAP is an acronym for Generally Accepted Accounting Principles, it was adopted by the U.S. Securities and Exchange Commission (SEC) and is the comprehensive accounting rules and standard used in recording and reporting financial information.

The IFRS is an acronym for International Financial Reporting Standards,International Financial Reporting Standards, it is a set of accounting rules that ensure financial statements are consistent, transparent and comparable globally.

Both IFRS and U.S. GAAP allow deferred taxes to be presented as noncurrent on the balance sheet.

Estrada Corporation produced 204,000 watches that it sold for $18 each. The company determined that fixed manufacturing cost per unit was $9 per watch. The company reported a $816,000 gross margin on its financial statements. Required Determine the variable cost per unit, the total variable product cost, and the total contribution margin.

Answers

Variable cost per unit

Total sales 204,000 x $18 = $3,672,000

Gross margin (given) $816,000

COGS=Total Sales -Gross Margin ($3,672,000-816,000)= $2,856,000

Total Fixed Cost 204,000 x $9 = $1,836,000

COGS Total variable cost + total fixed cost 2,856,000-1,836,000=$1,020,000

variable cost per unit (1020,000/204,000)= $5

Contribution margin $2,652,000

Total variable cost = $1,020,000Total variable cost = $5Contribution margin = $2,652,000

Given:

Number of watch produced = 204,000

Selling price of each watch = $18

Fixed cost = $9 per watch

Gross margin = $816,000

Find:

Variable cost per unit

Total variable product cost

Total contribution margin

Computation:

Total sales Value = 204,000 × $18

Total sales Value = $3,672,000  

Cost of goods sold = Total Sales - Gross Margin

Cost of goods sold = $3,672,000 - $816,000

Cost of goods sold = $2,856,000  

Total Fixed Cost = 204,000 × $9

Total Fixed Cost = $1,836,000  

Cost of goods sold = Total variable cost + Total fixed cost

So,

Total variable cost = $2,856,000 - $1,836,000

Total variable cost = $1,020,000

Variable cost per unit  = $1020,000 / 204,000

Total variable cost = $5  

Contribution margin = $3,672,000 - $1,020,000

Contribution margin = $2,652,000

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You have an opportunity to work three hours of overtime and earn an extra $99 gross income. However, a total of $32 will be taken out for federal, state, and local taxes. You parked in the parking garage and will have to pay $6.50 total to park for the additional hours. You also didn't pack an extra meal, which you already have in the refrigerator at home; so you will have to spend $12 for food. You will also have to pay $55 for additional daycare for your children. According to the marginal principle and everything else equal (ceteris paribus); will you work the overtime? Why or why not? (Show your work) (10 %)

Answers

Answer:

no

the marginal benefit of working overtime in terms of income is less than the marginal cost of working overtime

Explanation:

According to the marginal cost principle, i would be willing to work if marginal benefit exceeds marginal cost

Marginal cost = 32 + 6.5 + 12 + 55 = 105.50

Marginal benefit = 99

the marginal benefit of working overtime in terms of income is less than the marginal cost of working overtime. So, i won't work overtime

i have a resturant which is famous for hydrabdi biryani but the ingredients are not avilable in the resturant suddenly if the guest will be came how i will manage it

Answers

you could say to the customer “sorry there is none available at the moment” and for them to come back and not be disappointed you can give them a discount voucher , therefore minimising the chance of that customer not returning.
by entertaining them forgot in talk always smile tell to wait

A state of economic scarcity exists when consumers:
A. do not have enough resources to satisfy all of their wants.

B. save their money in banks instead of spending it.

C. borrow too much money to buy unnecessary products.

D. have their economic freedoms restricted by the government.​

Answers

Answer is A
when you don’t have enough resources that for people’s wants and needs that is called scarcity.
the correct answer is A

who is the richest person in the world ?​

Answers

Answer:

Jeffrey Preston Bezos

Explanation:

Jeffrey Preston Bezos is an American investor, business tycoon, media proprietor, and he is founder and executive chairman of Amazon. Although, he had served as the chief executive officer (CEO), president and chairman of Amazon before becoming its executive chairman.

He was born on the 12th of January, 1964 in Albuquerque, New Mexico, United States of America.

According to Forbes magazine, Jeff currently has an estimated net worth of two hundred and five (205) billion dollars, making him the richest man in the world and on Earth.

In conclusion, Jeffrey Preston Bezos is the richest person in the world.

Find the percentage change in price in each of the following examples using the mid-point method.
Instructions: Round your answers to two decimal places. If you are entering a negative number be sure to include a negative sign (-) in front of that number.
a. The price of a $4 sandwich increases to $5: percent
b. A sale discounts the price of a sofa from $750 to $500: percent

Answers

Answer:

0.22

-0.40

Explanation:

midpoint change in price = change in price / average of both price

a. change in price =  (5 - 4) = 1

average of both prices = 0.5 (4 + 5) = 4.50

midpoint change in price = 1/ 4.5 = 0.22

b.  change in price = (500 - 750) = -250

average of both prices = 0.5(750 + 500) = 625

-250 / 625 = -0.4

who is the cm of korea​

Answers

Kim boo-kyum is cm ko korea

Answer:

kim book kyum is the cm of korea

Explanation:

hope it helps!!

Place and convenience are connected by a core linkage. While GoPro was able to get the product into locations where customers could find it, it made an error when production problems forced it to

Answers

Question Completion with Options:

a. ignore convenience stores in its distribution network.

b. deliver fewer cameras than were needed during a holiday season.

c. miss the customer connection by emphasizing place over convenience.

d. exert too much power in the distribution network.

Answer:

GoPro

production problems forced it to

b. deliver fewer cameras than were needed during a holiday season.

Explanation:

Shortages are avoided by producers as much as possible in order not to cause disequilibrium in the market.  Shortages are not the same as scarcity.  They are temporary setbacks when the quantity demanded outstrips the quantity supplied at the equilibrium market price.  The backlashes result in lost sales and revenue for suppliers.  Shortages may clear ways for competitors to enter the market to meet the unsatisfied demand.

The American Recovery and Reinvestment Act, signed by President Barack Obama in 2009, aimed at: Group of answer choices providing higher unemployment benefits to the residents of the economy. removing the supply bottlenecks in the economy. ensuring free trade flows across the world. stimulating the aggregate demand in the economy. closing an expansionary gap through a contractionary fiscal policy.

Answers

Answer: Stimulating the aggregate demand in the economy.

Explanation:

When former President Obama took over the governing of the nation in 2009, the country was in the midst of one of the worst global depressions that it had ever been through. Employment was high and aggregate demand was low.

President Obama therefore embarked on an expansionary fiscal policy by passing the American Recovery and Reinvestment Act which was to target certain sectors of the economy with the view of increasing investment in those sectors and consumption so that Aggregate demand can be stimulated in the economy as those two things are components of Aggregate demand.

TR Company conducts business exclusively in State V, which levies a 5 percent sales and use tax on goods purchased or consumed in-state. This year, TR bought equipment in State B. The cost of the equipment was $90,000, and TR paid $5,400 sales tax to State B. TR also bought machinery in State D. The cost of the machinery was $200,000, and TR paid $7,000 sales tax to State D.

Required:
a. How much use tax does TR Company owe to State V with respect to the equipment bought in State B?
b. How much use tax does TR Company owe to State V with respect to the machinery bought in State D?

Answers

Answer:

a. Particulars                                                       Amount

Value of property purchased in State B A      $90,000

Tax rate in State V B                                              5%    

Pre-Credit use tax C (A*B)                                 $4,500

Credit Sales tax paid to State B D                   ($5,400)

Use tax owed to State V E (C+D)                      $0          

b. Particulars                                                          Amount

Value of property purchased in State D A        $200,000

Tax rate in State V B                                                  5%      

Pre-credit use tax C (A*B)                                   $10,000

Credit Sales tax paid to State D D                     ($7,000)  

Use tax owed to State V E (C+D)                       $3,000    

Norton Company reported total sales revenue of $55,000, total expenses of $45,000, and net income of $10,000 on its income statement for the year ended December 31, 2010. During 2010, accounts receivable increased by $4,000, merchandise inventory increased by $6,000, accounts payable decreased by $2,000, and depreciation of $18,000 was recorded. Therefore, based only on this information, the net cash flow from operating activities using the indirect method for 2010 was:

Answers

Answer:

By calculation the answer is $16,000.

Norton Company reported total sales revenue of $55,000, total expenses of $45,000, and net income of $10,000 on its income statement for the year ended December 31, 2010.  To calculate the net cash flow from operating activities using the indirect method.

The net income and then adjust for changes in working capital and non-cash expenses.

Net Income: $10,000

Adjustments for Changes in Working Capital:

Increase in Accounts Receivable: $4,000

Increase in Merchandise Inventory: $6,000

Decrease in Accounts Payable: $2,000

Adjustments for Non-cash Expenses:

Depreciation: $18,000

Net Cash Flow from Operating Activities:

Net Income + Adjustments for Changes in Working Capital + Adjustments for Non-cash Expenses

$10,000 - $4,000 - $6,000 + $2,000 + $18,000

$10,000 - $8,000 + $2,000 + $18,000

Net Cash Flow from Operating Activities = $22,000

Therefore, based on the given information, the net cash flow from operating activities using the indirect method for 2010 was $22,000.

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New lithographic equipment, acquired at a cost of $859,200 on March 1 of Year 1 (beginning of the fiscal year), has an estimated useful life of five years and an estimated residual value of $96,660. The manager requested information regarding the effect of alternative methods on the amount of depreciation expense each year. On the basis of the data presented to the manager, the double-declining-balance method was selected.

Required:
a. Determine the annual depreciation expense for each of the estimated five years of use, the accumulated depreciation at the end of each year, and the book value of the equipment at the end of each year by (a) the straight-line method and (b) the double-declining-balance method. Round your answers to the nearest whole dollar.
b. Journalize the entry to record the sale assuming the manager chose the double-declining-balance method.

Answers

Answer and Explanation:

The calculation and the journal entry is given below:

a)

Depreciation expense= (Original cost - Residual Value) ÷ Estimated useful life

= $(859200 - 96660) ÷ 5

= $152508

Year     Depreciation Expense Accumulated depreciation   Book Value,

1            $152508                           $152508                           $706692

2            152508                         305016                            554184

3             152508                            457524                           401676

4              152508                            610032                             249168

5          152508                           762540                              96660

b)

Depreciation rate is

= 100 ÷ 5 × 2

= 40%

Year     Depreciation Expense Accumulated depreciation   Book Value,

1  $343680                               $343680                            $515520

( 40% of 859200)

2       206208                                   549888                             309312

(40% of 515520)

3 123725                                     673613                        185587

4 74235                                      747848                         111352

5  14692                                      762540                               96660

(111352-96660)

c)

The journal entry is  

Cash  $141422.00  

Accumulated depreciation- Equipment  $747848.00  

     To Gain on sale of Equipment   $30070.00

      To Equipment   $859200.00  

(Being the sale of equipment is recorded)      

Grace Company gathered the following reconciling information in preparing its July bank reconciliation: Cash balance per books, 7/31 $4,500 Deposits in transit 150 Notes receivable and interest collected by bank 850 Bank charge for check printing 20 Outstanding checks 2,000 NSF check 170 The adjusted cash balance per the books on July 31 is____.a. $5,010.
b. $3,310.
c. $3,460.
d. $5,160.

Answers

Answer:

d. $5,160

Explanation:

Calculation to determine what The adjusted cash balance per the books on July 31 is

Cash balance per books, 7/31 $4,500

Add Notes receivable and interest collected by bank $850

Less Bank charge for check printing ($20)

Less NSF check ($170)

Cash balance per the books on July 31 $5,160

Therefore The adjusted cash balance per the books on July 31 is $5,160

If Karla spent $200 on Wednesday to have the windows in her building washed, recorded the
accounting event that afternoon and on Friday paid $550 for a repair to the water heater
and recorded that event on Friday evening, which of the accounting principles below is she
following?

Answers

Answer:

Accrual Principle

Explanation:

The accrual principle is when a transaction is recorded in the time period that it occurs. In this case, recording a Friday transaction on Friday.

On the basis of the following data, determine the value of the inventory at the lower of cost or market. Apply lower of cost or market to each inventory item.

Product Inventory Quantity Cost per Unit Market Value per Unit (Net Realizable Value)
Model A 12 $106 $102
Model B 45 84 70
Model C 36 254 243
Model D 31 85 88
Model E 41 132 148

Required:
Determine the value of the inventory at the lower of cost or market.

Answers

Answer:

The value of the inventory at the lower of cost or market price is:

= $21,170.

Explanation:

a) Data and Calculations:

Product  Inventory    Cost per Unit  Market Value per Unit     LCNRV

              Quantity                              (Net Realizable Value)

Model A       12                $106                   $102                  $1,225 (12*$102)

Model B      45                    84                       70                     3,150 (45*$70)

Model C     36                  254                    243                     8,748 (36*$243)

Model D     31                     85                      88                     2,635 (31*$88)

Model E     41                    132                    148                      5,412 (41*$132)

Total cost of inventory based on LCNRV (per item)        $21,170

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