Functions: MIN, SUM; Formula: Subtract; Cell Referencing
Some cells are merged.
Using Excel to Value Inventory at the LowerofCost or Net Realizable Value Student Work Area
Required: Provide input into cells shaded in yellow in this template. Use mathematical formulas with cell references to the Problem area or work area as indicated. Use the SUM function to add amounts, and the MIN function as indicated to determine LCNRV both with cell referencing.
PROBLEM
Super Tech Company has the following cost and net realizable value data at December :
Net Realizable Value
Inventory Categories Cost
Personal computers $ $ a Calculate the lower of cost and net realizable value valuation assuming Super Tech Company applies LCNRV to individual products.
Servers
Total solution printers
Inventory Categories LCNRV
Personal computers
Servers
Total solution printers
Total LCNRV
b What adjustment should the company record if it uses a perpetual inventory system?
Debit Credit
