Powder Ski Shop reports inventory using the lower of cost and net realizable value (NRV)....
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Powder Ski Shop reports inventory using the lower of cost and net realizable value NRV Below is information related to its yearend inventory.
Inventory Quantity Unit Cost Unit NRV
Ski jackets $ $
Skis
Record any necessary adjusting entry for the lower of cost and net realizable value. If no entry is required for a particular transactionevent select No Journal Entry Required" in the first account field.
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