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HT. Tan Company is preparing the annual financial statements dated December 31 of the current...

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Accounting

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HT. Tan Company is preparing the annual financial statements dated December 31 of the current year. Ending inventory information about the five major items stocked for regular sale follows: ENDING INVENTORY, CURRENT YEAR Net Realizable Value (Market) Quantity on Band 62 92 Unit Cost When Item Acquired (PIPO) $ 13 at Year-End A $16 31 41 22 53 49 32 362 31 26 6 11 Required: Compute the valuation that should be used for the current year ending inventory using lower of cost or net realizable value applied on an item-by-item basis Total Net Item Quantity Total Cost Realizable Value Lower of Cost or NRV A 62 92 22 D 82 362 0$ $ 0 Total

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