Hello! Does anyone can help solve this questions? Thank you so much!

1. For manufacturing firms, their inventories should be valued based on the lower of cost or NRV (FIFO or weighted-average cost flow assumption). Please explain meaning of NRV and how to get this number? If the cost is higher than the NRV, what kind of accounting adjustment a firm should make?

2. Please identify and describe important internal controls over the credit purchase process.

3. Accounts payable clerk records accounts payable and initiates the cash disbursement process. As a part of internal control, three documents shall be presented to him or her before an A/P is recorded. Please name the three documents. Who has the authority to sign payment checks and mail them to suppliers?