Homework Answers
Ans:
|
The lower of Cost or Net realizable value |
$ 28,740 |
Calculated as
|
Inventory Categories |
Cost |
Net Realizable Value(NRV) |
Lower of cost or NRV |
|
Camera |
$ 10,520 |
$ 11,670 |
$ 10,520 |
|
Camcorders |
$ 8,900 |
$ 9,720 |
$ 8,900 |
|
DVDs |
$ 10,530 |
$ 9,320 |
$ 9320 |
|
The lower of Cost or Net realizable value |
$ 28,740 |
||
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