Check my work Required information [The following information applies to the questions displayed below.) Home Furnishings reports Inventory using the lower of cost and net realizable value (NRV). Below is information related to its year-end Inventory. Q uantity Inventory Furniture Electronics Unit Cost $ 92 Unit NRV $107 270 57 470 335 Required: 1. Calculate the total recorded cost of ending Inventory before any adjustments. Cost of ending inventory (before adjustment) Required information (The following information applies to the questions displayed below.] Lewis Incorporated and Clark Enterprises report the following amounts for the year. Inventory (beginning) Inventory (ending) Purchases Purchase returns Lewis $ 22,000 16,000 231, 200 13,000 Clark $ 48,000 58,000 216,400 58,000 Required: 1. Calculate cost of goods sold for each company. Lewis Clark Beginning inventory Cost of goods available for sale