20. On January 1, Y1, Nana Company paid $100,000 for 8,000 shares of Papa Company common stock. The ownership in Papa Company is 10%. Nana Company does not have significant influence over Papa Company. Papa reported net income of $52,000 for the year ended December 31, Y1. The fair value of the Papa stock on December 31, Y1 date was $45 per share. What amount will be reported in the balance sheet of Nana Company for the investment in Papa at December 31, Y1?
21. A company adopted the dollar-value LIFO inventory method on January 1, 2024. In applying the LIFO method, the company uses internal cost indexes and the multiple-pools approach. The following data were available for Inventory Pool No. 3 for the two years following the adoption of LIFO:
22. A company has four types of products in its inventory as shown below:
| Product | Quantity | Cost | Net Realizable Value |
|---|---|---|---|
| A | 15 | $ 7 | $ 10 |
| B | 10 | 18 | 12 |
| C | 20 | 8 | 6 |
| D | 15 | 11 | 15 |
When accounting for the lower of cost or net realizable value by individual items, the year-end adjustment to write down inventory would be: