Accounting Volume 1.... x About Support Chapter 6 Inventories EX 6-9 5 Lower of cost and NRV inventory On the basis of the following data, determine the value of the inventory at the lower of cost and NRV on an individual basis. Assemble the data in the form illustrated in Exhibit 5, on page 315. Direct Commodity Inventory Quantity Unit Cost Price Lower of cost and NRV $16,440 Aquarius 20 $80 Unit Market Price $92 Selling Costs Capricorn 50 70 65 $0 250 Leo 8 300 2801 0 Scorpio 30 40 30 300 Taurus 100 90 90 O EX 6-10 5 Inventory on the balance sheet Based on the data in Exercise 6-9 and assuming that cost was determined by the FIFO method, show how the inventory would appear on the balance sheet. kuate of Morning Java (ASCE) LO'S Q AA P C