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Metlock Corporation has the following four items in its ending inventory. ...

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Accounting

Metlock Corporation has the following four items in its ending inventory.

Item

Cost

Net Realizable Value (NRV)

Jokers

 $2,400 $2,520

Penguins

 6,000 5,940

Riddlers

 5,280 5,550

Scarecrows

 3,840 4,596

(a)

Determine the following the LCNRV for each item.

Item

LCNRV

Jokers

 $enter a dollar amount

Penguins

 enter a dollar amount

Riddlers

Answer & Explanation Solved by verified expert
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