Brief Exercise 9-2

Bonita Corporation has the following four items in its ending inventory.

Item		Cost		Net Realizable Value (NRV)
Jokers		$2,200		$2,310
Penguins		5,500		5,445
Riddlers		4,840		5,088
Scarecrows		3,520		4,213

Determine the following the LCNRV for each item.

Item		LCNRV
Jokers		$
Penguins
Riddlers
Scarecrows

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(1) Determine the amount of write-down, if any, using an item-by-item LCNRV evaluation. (If no write-down, enter 0 for the amounts.)

Item		Write-down
Jokers		$
Penguins
Riddlers
Scarecrows

(2) Determine a total category LCNRV evaluation. (If no write-down, enter 0 for the amount.)

Total category LCNRV

$