The following information pertains to the physical inventory of Geo Furniture Company taken at December 31:Required:1. Calculate the LCNRV for the:a. Inventory by major categoryb. Inventory,...

The following information pertains to the physical inventory of Geo Furniture Company taken at December 31: Required: 1. Calculate the LCNRV for the: a. Inventory by major category b. Inventory, applied separately to each product. 2. Prepare the appropriate entry, if any, for (a) and (b). View Solution:

The following information pertains to the physical inventory of Geo