Young co. issues $800,000 of 10% bonds dated january 1, year 1. interest is payable semiannually on june 30 and december 31. the bonds mature in five years. the current market for similar bonds is 8%. the entire issue is sold on the date of issue. the following values are given: present value ofordinary annuity present value of $ =10; i=0.04 8.11090 0.67556n=10; i=0.05 7.72173 0.61391what amount of proceeds on the sale of bonds should young report? a. $799,997b. $815,564c. $849,317d. $864,884

Example1 lcnrv: ted company uses the lower of cost or nrv method in valuing its inventory items. the inventory at december 31, 2017, consists of products a, b and c, each having 1,000 units. relevant unit data for these products appear below: item a item b item c cost $ 80 $80 $80 estimated selling price 180 100 90 estimated selling cost 30 30 30 required: using the lower of cost or net realizable value rule, determine the proper value of inventory for balance sheet reporting purposes at december 31, 2017. prepare any necessary journal entry. apply the lower of cost or nrv method: • on an individual inventory basis; • on a group basis; • on a total inventory basis. solution worksheet: inventory (on an individual basis): inventory value item nrv cost lc- item a item b item c total inventory (on a group basis): inventory value item nrv cost lc- group 1 (item a and b) group 2 (item c) total inventory (on an aggregate inventory basis): inventory value item nrv cost lc- total inv