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E 8-19 LO5 Computing Lower-of-Cost-or-Net Realizable Value Reims Company applied FIFO to its inventory and got the following results for its ending inventory. Running
E 8-19 LO5 Computing Lower-of-Cost-or-Net Realizable Value Reims Company applied FIFO to its inventory and got the following results for its ending inventory. Running shoes Tennis shoes.. Basketball shoes.. 200 units at a cost per unit of 61 300 units at a cost per unit of 68 250 units at a cost per unit of 72 The net realizable value per unit at year-end was: running shoes 63, tennis shoes 64, and basketball shoes 67. Determine the amount of ending inventory at lower-of-cost-or-net-realizable value.
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