1.Calculate the final inventory value for RAC Corp based on individual inventory items.

2. Record the journal entry to write-down inventory assuming the allowance method is used.

RAC Corp sells refrigerators and dishwashers. Information related to the inventory of RAC Corp is provided belotw Net Realizable Value Less a Net Replacement Realizable Normal Profit Value Cost Cost Margin erator Models Elite Standard Economy 0,000 70,000 100,000 110,000 75,000 80.000 100,000 90,000 60,000 70,000 80,000 90,000 Dishwasher Model Pro Residential 95,000 150,000 140,000 85,000 170,000 92,000 155,000 80,000