Question
Creative Technology reports inventory using the lower of cost and net realizable value (NRV). Below is information related to its end inventory. year- Inventory
Creative Technology reports inventory using the lower of cost and net realizable value (NRV). Below is information related to its end inventory. year- Inventory Optima cameras Unit Unit Quantity Cost NRV 100 40 $82 $52 52 62 Inspire speakers Calculate the total amount to be reported for ending inventory in the balance sheet. Inventory Quantity Lower of Cost and NRV per unit Ending Inventory Optima camera Inspire speakers 100 40
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Financial Accounting
Authors: David Spiceland, Wayne M. Thomas, Don Herrmann
5th edition
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