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* CASE STUDY (2): You are currently appointed as the Senior Accountant for Indigo company, a listed company selling a wide range of electronic products.

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* CASE STUDY (2): You are currently appointed as the Senior Accountant for Indigo company, a listed company selling a wide range of electronic products. You have been asked by the chief financial officer (CFO) to develop a short presentation on the LCNRV method for inventory purposes since it appears that a large portion of the company's inventory has decreased in value. Instructions: You are required to answer the following questions. 1. What is the purpose of the LCNRV method? 2. What is meant by net realizable value"? 3. Do you apply the LCNRV method to each individual item, to a category, or to the total of the inventory? Explain. 4. What are the disadvantages of the LCNRV method

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