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Determine the total reported Inventory value for Reas Retail assuming the lower of cost and net realizable value rule is applied to classes/types of Inventory.

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Determine the total reported Inventory value for Reas Retail assuming the lower of cost and net realizable value rule is applied to classes/types of Inventory. Show computations for partial credit and clearly Label your answer. Product Cost NRV TOOLS Hand tools $1,700 $1.620 Power tools 1.600 1.980 APPLIANCES Washers $1,750 $ 1.800 D Dryers 3.350 3.240 CLOTHING Women's 1.400 1.620 Men's 1.800 2.070

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