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A company has three types of products: gadgets, widgets, and gizmos. The cost and market price of each type is listed below. Complete the table

A company has three types of products: gadgets, widgets, and gizmos. The cost and market price of each type is listed below. Complete the table by applying the lower of cost and net realizable value (LCNRV).

Do not enter dollar signs or commas in the input boxes.

LCNRV Applied to
Description Category Cost NRV Individual Category Total
Gadget Type 1 Gadgets $980 $840 $Answer
Gadget Type 2 Gadgets $5,100 $5,800 $Answer
Total Gadgets $Answer $Answer $Answer
Widget A Widgets $140 $100 $Answer
Widget B Widgets $190 $200 $Answer
Total Widgets $Answer $Answer $Answer
Gizmo 1 Gizmos $1,730 $1,830 $Answer
Gizmo 2 Gizmos $2,250 $1,540 $Answer
Total Gizmos $Answer $Answer $Answer
Total $Answer $Answer $Answer $Answer $Answer

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