Required information (The following information applies to the questions displayed below.] Home Furnishings reports inventory...
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Required information (The following information applies to the questions displayed below.] Home Furnishings reports inventory using the lower of cost and net realizable value (NRV), Below is information related to its year-end inventory. Inventory Furniture Electronics Quantity 150 Unit Cost $ 80 Unit NRV $ 95 275 Required: 1. Calculate the total recorded cost of ending inventory before any adjustments. Cost of ending inventory (before adjustment) Required information [The following information applies to the questions displayed below.) Home Furnishings reports inventory using the lower of cost and net realizable value (NRV). Below is information related to its year-end inventory. Inventory Furniture Electronics Quantity 150 45 Unit Cost $ 80 3 50 Unit NRV $ 95 275 2. Calculate ending inventory using the lower of cost and net realizable value. Inventory Quantity Lower of Cost and NRV per unit Ending Inventory Furniture Electronics
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