Inventory

A physical inventory of Liverpool Company taken at December 31 reveals the following. Car audio equipment Speakers Stereos Amplifiers Subwoofers 345 98 98 260 111 326 86 284 52 1e0 95 41 Security equipment Alarms Locks Cameras 480 158125 291 93 212 318 322 84 Binocular equipment Tripods Stabilizers 185 176 70 84 97 1e5 Required 1. Calculate the lower of cost or market for the inventory applied separately to each item 2. If the market amount is less than the recorded cost of the inventory, then record the LCM adjustment to the Merchandise Inventory account. Complete this questions by entering your answers in the below tabs Required 1 Required 2 K Prex 7 of 9 Next >