Question
JaCo has the following inventory at year end: Plastic Cases on handCost per unit NRV per case Cars and trucks12$80$75 Action figures182228 Rubber Pool toys20$56$62
JaCo has the following inventory at year end:
Plastic Cases on handCost per unit NRV per case
Cars and trucks12$80$75
Action figures182228
Rubber
Pool toys20$56$62
Sports novelties803229
Zoo animals 1101715
Cardboard
Board games30$34$24
Jigsaw puzzles502123
What is JaCo's ending inventory applying LCNRV (lower of cost or net realizable value) by item?
a.$8,156 b. $8,484 c.$8,358 d.$8,436
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Managerial Accounting
Authors: Ray H Garrison, Alan Webb, Theresa Libby
11th Canadian Edition
1259275817, 978-1259275814
