Exercise 6-7 tower of cost and net realizable value 1.04

Showtime Company's ending inventory at December 31, 2014, includes the following items:

Caiculate LCNRV for the Inventory:

Product	Units on Hand	Unit Cost	Net Reallzable Value Per Unit
BB	22	$110	$115
FM	15	145	138
MB	36	186	172
SL	40	78	92

a. As a whole (assuming the Items are similar), and

b. Applied separately to each product

c. Prepare the appropriate adjusting entry, if required, based on your calculations in (b).