Lower of Cost or Net Realizable Value The accountant for Davidson, Inc. prepared the following analysis of its inventory at year end: Required: 1. Compute the carrying value of the ending inventory using the lower of cost or net realizable 2. Prepare the journal entry required to value the inventory at lower of cost or net realizable va (Appendix 6B) Inventory Costing Methods: Periodic LIFO Bordeaux Company has the following information related to purchases and sales of one of its inventory items: Assume that Bordeaux uses a periodic inventory system. Required: Calculate the cost of goods sold and the cost of ending inventory using the LIFO inventory costing method. Cost of goods sold Cost of ending inventory