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A company like Golf USA that sells golf-related inventory typically will have inventory items such as golf clothing and golf equipment. As technology advances the

A company like Golf USA that sells golf-related inventory typically will have inventory items such as golf clothing and golf equipment. As technology advances the design and performance of the next generation of drivers, the older models become less marketable and therefore decline in value. Suppose that in the current year, Ping (a manufacturer of golf clubs) introduces the MegaDriver II, the new and improved version of the MegaDriver. Below are year-end amounts related to Golf USAs inventory.

Inventory Quantity Unit Cost Unit NRV
Shirts 33 $60 $68
MegaDriver 13 340 260
MegaDriver II 28 370 400

pls answer all questions ;

question 1; Calculate the total recorded cost of ending inventory before any adjustments.

question 2;. Calculate ending inventory using the lower of cost and net realizable value.

inventory quanity

lower of cost

and nrv per unit

ending inventory
shirts 33
mega driver 13
mega driver ll 28
$__

questions 3; Record any necessary adjusting entry to inventory. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)

question 4; Determine the impact of the adjusting entry in the financial statements

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