Decker Company has five products in its inventory. Information about the December 31, 2018, inventory follows. Product Quantity 1,040 B 850 800 D 400 E 800 Unit Cost $ 22 27 4 9 26 Unit Selling Price $30 30 10 8 25 The cost to sell for each product consists of a 10 percent sales commission. Required: 1. Determine the carrying value of inventory at December 31, 2018, assuming the lower of cost or net realizable value (LCNRV) rule is applied to individual products. 2a. Determine the carrying value of inventory at December 31, 2018, assuming the LCNRV rule is applied to the entire inventory. 2b. Assuming the inventory write-downs are usual business practice for Decker, record any necessary year-end adjusting entry. Complete this question by entering your answers in the tabs below. Reg 1 Reg 2A Reg 28 Determine the carrying value of inventory at December 31, 2018, assuming the lower of cost or net realizable value (LCNRV) rule is applied to individual products. Product Cost NRV Inventory (units) A 1040 B 850 Value C 800 C D E 800 400 800 4 9 26 10 8 25 The cost to sell for each product consists of a 10 percent sales commission. Required: 1. Determine the carrying value of inventory at December 31, 2018, assuming the lower of cost or net realizable value applied to individual products. 2a. Determine the carrying value of inventory at December 31, 2018, assuming the LCNRV rule is applied to the entire 2b. Assuming the inventory write-downs are usual business practice for Decker, record any necessary year-end adjust Complete this question by entering your answers in the tabs below. Req 1 Req 2A Req 2B Cost Determine the carrying value of inventory at December 31, 2018, assuming the lower of cost or net realizable value (LCNRL rule is applied to individual products. Product (units) NRV Inventory A 1040 B 850 C 800 D 400 Value E 800 Ree Req 2A > The cost to sell for each product consists of a 10 percent sales commission. Required: 1. Determine the carrying value of inventory at December 31, 2018, assuming the lower of cost or net realizable value (LCNRV) applied to individual products. 2a. Determine the carrying value of inventory at December 31, 2018, assuming the LCNRV rule is applied to the entire inventor 2b. Assuming the inventory write-downs are usual business practice for Decker, record any necessary year-end adjusting entry Complete this question by entering your answers in the tabs below. Reg 1 Reg 2A Reg 2B Determine the carrying value of inventory at December 31, 2018, assuming the LCNRV rule is applied to the entire inventory. Inventory carrying value Journal entry worksheet
