2 points ms/d/e/1FAIpQLSdukp7N3-6WL88IMKWIIGSKOP4UrUbdzmiel_zHzPTxRFvig/tormResponse Machinery having a four-year useful life and a residual value of $5,000 was acquired for $65,000 cash on June 28. Using the nearest whole month method, the company would recognize $11,250 for depreciation expense at the end of the first year, December 31. * True False Coronado Company sells two types of inventory. MP3 players and Blu Ray 3 points players. The MP3 players originally cost $2,250 and have a net realizable value $1,075 while the Blu Ray players had an original cost of $500 and have a net realizable value of $700. Calculate the year end adjustment to inventory when applying the lower of cost and net realizable value on an item by item basis.* O $375 O $1,175 O O $1,112 $1,575 O $2,950