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Can you help me to do this thank you Seved apter 9 - Homework 1 Almaden Hardware Store sells two product categories, tools and paint
Can you help me to do this thank you Seved apter 9 - Homework 1 Almaden Hardware Store sells two product categories, tools and paint products. Information pertaining to its 2021 year-end inventory is as follows Net Realizable Value Per Unit Cost Quantity Book Inventory, by Product Category Tools: Hanners Saws Screwdrivers Paint products: 1-gallon cans Paint brushes 100 260 360 $ 5.60 10.60 2.60 $6.10 9.60 3.20 560 100 6.60 4.60 5.60 5.10 Required: 1. Determine the carrying value of inventory ot year-end, assuming the lower of cost or net realizable value (LCNRV) rule is applied to (6) Individual products, (b) product categories, and (c) total inventory 2. Assuming inventory write-downs ore common for Almaden, record any necessary year-end adjustment amount for each of the LCNRV applications in requirement 1. Complete this question by entering your answers in the tabs below. Required: Required 2 Determine the carving value of inventory at year-end, assuming the lower of cost or net realizable value (LCNRV) rule is applied to a individual products. (b) product categories, and (c) total inventory 1 of 12 !!! Next > Complete this question by entering your answers in the tabs below. Required 1 Required 2 Determine the carrying value of inventory at year-end, assuming the lower of cost or net realizable value (LCNRV) rule is applied to (a) individual products, (b) product categories, and (c) total inventory. Lower of cost and NRV Net Realizable By Individual Value Products Product Categories By Total Inventory Product Cost Tools Hammers Saws Screwdrivers Total tools Paint products 1-gallon cans Paint brushes Total paint Total Required 2 > Journal entry worksheet 1 2 3 > Record necessary year-end adjustment for individual products. Note: Enter debits before credits. Transaction General Journal Debit Credit explanation Record entry Clear entry View general joumal Journal entry worksheet Record necessary year-end adjustment for product categories. Note: Enter debits before credits. General Journal Debit Credit Transaction 2 explanation Record entry Clear entry View general journal View transaction list Journal entry worksheet 1 2 Record necessary year-end adjustment for total inventory. Note: Enter debits before credits General Journal Debit Credit Transaction 3 explanation Record entry Clear entry View general journal
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