Required information [The following information applies to the questions displayed below.] A company reports inventory using the lower of cost and net realizable value (NRV). Below is information...


Required information<br>[The following information applies to the questions displayed below.]<br>A company reports inventory using the lower of cost and net realizable value (NRV). Below is information related to its<br>year-end inventory.<br>Inventory<br>Furniture<br>Electronics<br>Quantity<br>120<br>42<br>Unit Cost<br>$ 77<br>320<br>Unit NRV<br>$ 92<br>260<br>Required:<br>1. Calculate the total recorded cost of ending inventory before any adjustments.<br>X Answer is complete but not entirely correct.<br>Cost of ending inventory (before adjustment)<br>20,160<br>

Extracted text: Required information [The following information applies to the questions displayed below.] A company 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 120 42 Unit Cost $ 77 320 Unit NRV $ 92 260 Required: 1. Calculate the total recorded cost of ending inventory before any adjustments. X Answer is complete but not entirely correct. Cost of ending inventory (before adjustment) 20,160

Jun 11, 2022
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