AutoSave Off File Home 5+0 Insert Design Layout References Mailings Tutorial 3-week 5 (Inventories) (1) - Protected View - Saved to this PC Review View Help mok catherine Search Share Comments PROTECTED VIEW Be careful-files from the Internet can contain viruses. Unless you need to edit, it's safer to stay in Protected View. Page 3 of 3 H 695 words Type here to search Non-GST version Enable Editing The following information applies to the inventory of Carson's Camera Store as at 30 June 2019. Model number Cameras: A-4 C-7 G-1 Z-8 Video equipment: BD-5 FY-9 Unit price (excluding GST) Quantity Actual cost Net realisable value 1206 50 18 $ 95 $ 75 100 120 65 60 50 55 15 180 10 240 190 220 Required (a) Calculate the ending inventory value as at 30 June 2019, applying the lower of cost and net realisable value rule to: i. individual inventory items ii. major categories of cameras and video equipment iii. total inventory. (b) What effect does application of the lower of cost and net realisable rule have on the financial statements of the business? (c) Assume that at the end of the next financial year, 12 units of model A-4 are still on hand and the net realisable value is $80 per unit. How would this increase in net realisable value affect the inventory value of the 12 units. (d) How would the increase in net realisable value in requirement C be treated in the accounting records? (LO5) .C x + 100% ENG 8:22 PM 4/26/2020