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7 Lower of Cost and Net Realizable Value (LCNRV) (8 Marks) Isaiah's Gear had the following ending inventory costs: Product ID Units on Unit Cost

7 Lower of Cost and Net Realizable Value (LCNRV) (8 Marks) Isaiah's Gear had the following ending inventory costs: Product ID Units on Unit Cost Unit NRV Hand A 10 $5 $7 B 50 $8 $9 C 35 $10 $8 D 47 $14 $13 Calculate the lower of cost and net realizable value (LCNRV) on an item by item basis

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