ExcelAnalyticsChapter6_Question1 [Protected View] - Excel - x FILE HOME INSERT PAGE LAYOUT FORMULAS DATA REVIEW VIEW PROTECTED VIEW Be carefulfiles from the Internet can contain viruses. Unless you need to edit, it's safer to stay in Protected View. Enable Editing A1 fx Functions: MIN, SUM; Formula: Subtract; Cell Referencing A B Functions: MIN, SUM; Formula: Subtract; Cell Referencing BE6.10 Using Excel to Value Inventory at the Lower-ofCost or Net Realizable Value PROBLEM The following information on cost and net realizable value of Tech-IT Ltd.'s various inventory categories was gathered at December 31, 2021: \begin{tabular}{lrr} \multicolumn{1}{c}{ Inventory Categories } & \multicolumn{1}{c}{ Cost } & \multicolumn{1}{c}{ NRV } \\ \hline Desktops & $347,000 & $326,000 \\ Tablets and readers & 168,700 & 224,000 \\ Laptops & 221,020 & 285,000 \\ Accessories and parts & 97,400 & 94,300 \end{tabular} Student Work Area Required: Provide input into cells shaded in yellow in this template. Use mathematical formulas with cell references to the Problem area or work area as indicated. a. Calculate the lower of cost and net realizable value for each inventory category within Tech-IT's inventory. \begin{tabular}{l|l|} \hline Inventory Categories & LCNRV \\ \hline Desktops & \\ Tablets and readers \\ Laptop \\ Accessories and parts \\ \hline \\ \hline \end{tabular} b. Prepare the entry needed to adjust Tech-IT's inventory value to the lower of cost or net realizable value at December 31, 2021. Enter Answer READY 7C Sunny Search X ENG US (4)) 12:2830/10/2023