just need Required 2 answer

Sanchez Company was formed on January 1 of the current year and is preparing the annual financial statements dated December 31, current year. Ending inventory information about the four major items stocked for regular sale follows: Item A B C D ENDING INVENTORY, CURRENT YEAR Quantity Unit Cost When on Hand Acquired (FIFO) 25 60 AB 40 15 Required: 1. Compute the valuation that should be used for the current year ending inventory using lower of cost or net realizable value applied on an item-by-item basis. Required 1 Required 2 C D 2. What will be the effect of the write-down of inventory to lower of cost or net realizable value on cost of goods sold for the year ended December 31, current year? Complete this question by entering your answers in the tabs below. Item Quantity Total Cost 25 60 40 15 Compute the valuation that should be used for the current year ending inventory using lower of cost or net realizable value applied on an item-by-item basis. Total $ 15 45 62 32 $ $ 15 20 62 32 129 Net Realizable Value (Market) at Year-End Total Net Realizable Value $ Lower of Cost or NRV 45 $ 49 60 37 191 $20 49 60 37 $ 15 20 62 32 129

Sanchez Company was formed on January 1 of the current year and is preparing the annual financial statements dated December 31 , current year. Ending inventory information about the four major items stocked for regular sale follows: Required: 1. Compute the valuation that should be used for the current year ending inventory using lower of cost or net realizable value applied on an item-by-ltem basis. 2. What will be the effect of the write-down of inventory to lower of cost or net realizable value on cost of goods sold for the year ended December 31 , current year? Complete this question by entering your answers in the tabs below. Compute the valuation that should be used for the current year ending inventory using lower of cost or net realizable value applied on an item-by-item basis. Sanchez Company was formed on January 1 of the current year and is preparing the annual financial statements dated December 31 , current year, Ending inventory information about the four mojor items stocked for regular sale follows: Required: 1. Compute the valuation that should be used for the current year ending inventory using lower of cost or net realizable value applied on an item-byltem basis. 2. What will be the effect of the write-down of inventory to lower of cost or net realizable value on cost of goods sold for the year ended December 31 , current year? Complete this question by entering your answers in the tabs below