Question
A company reports inventory using the lower-of-cost and net realizable value (NRV). Below is information related to its year-end inventory. Inventory Quantity Cost per Unit
A company reports inventory using the lower-of-cost and net realizable value (NRV). Below is information related to its year-end inventory.
| Inventory | Quantity | Cost per Unit | NRV per Unit |
| Ski jackets | 16 | $130 | $110 |
| Skis | 31 | $340 | $180 |
Calculate the amount to be reported for ending inventory.
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International financial management
Authors: Jeff Madura
13th edition
978-1337099738, 1337099732, 9781337515894, 1337515892, 978-1337587211
