Inventory for Accounting

Sarah has provided you the inventory listing in excel. Column C shows the historical cost, and column E is the last selling price of the product which management asserts is the net reslizable value of the product. Required 1: Complete a lower of cost and net realicable value analysis using the data below. steps required: (a) Calculate the Total Cost by product (Column F) (b) Calculate the Total Nikv by prodict (Column 6) (c) Determine the Lower of Cost and Net Realizable Value by comparing (Column F and Column G) Please see additional requirements below the inventory listing. (e) What impact does the adjusting journal entry prepared in 22 have on the goss mangin and imventory turnover (increase, decreane, or no etfect)? impect on gross margin impest on inventery turnover (1) Sarah is seeking to understand why an adjustment for the lower of cost and net realizable value (LCosv) is necehary. Provide a detalied explanation of the purpose behind this acceamting prindple? Sarah has provided you the inventory listing in excel. Column C shows the historical cost, and column E is the last selling price of the product which management asserts is the net reslizable value of the product. Required 1: Complete a lower of cost and net realicable value analysis using the data below. steps required: (a) Calculate the Total Cost by product (Column F) (b) Calculate the Total Nikv by prodict (Column 6) (c) Determine the Lower of Cost and Net Realizable Value by comparing (Column F and Column G) Please see additional requirements below the inventory listing. (e) What impact does the adjusting journal entry prepared in 22 have on the goss mangin and imventory turnover (increase, decreane, or no etfect)? impect on gross margin impest on inventery turnover (1) Sarah is seeking to understand why an adjustment for the lower of cost and net realizable value (LCosv) is necehary. Provide a detalied explanation of the purpose behind this acceamting prindple