Mitchell's Specialties sells high-end furniture (dressers, chairs, sofas, and tables). The company has been in business for several years. Based on its experience, management projects next year's sales prices of year-end inventory using the trend in monthly sales prices Huring the current year. Presented below are those trends in sales prices for each of its four types of inventory, as well as next year's projected sales price. Also presented are the number of units of ending inventory and the average cost of each of those units. Click here to open the graphs in a new tab. Required: 1. Which type of inventory has seen the greatest growth in sales prices over the current year? 2. Which type of inventory has seen the greatest decline in sales prices over the current year? 3. Based on the trend lines provided, for which inventory items does management project to sell below its average unit cost in the following year (Hint Compare projected sales prices to the bar chart showing average unit cost)? 4. Prepare the year-end adjusting entry to record inventory using the lower of cost or net realizable value method (Hint: Be sure to account for the number of units of ending inventory in your calculation). Complete this question by entering your answers in the tabs below. Which type of inventory has seen the greatest growth in sales prices over the current year? ounng the current year. rresented deiow are tnose trends in saies prices tor each or its tour types ot inventory, as weil as next year 5 projected sales price. Also presented are the number of units of ending inventory and the average cost of each of those units. Click here to open the graphs in a new tab. Required: 1. Which type of inventory has seen the greatest growth in sales prices over the current year? 2. Which type of inventory has seen the greatest decline in sales prices over the current year? 3. Based on the trend lines provided, for which inventory items does management project to sell below its average unit cost in the following year (Hint: Compare projected sales prices to the bar chart showing average unit cost)? 4. Prepare the year-end adjusting entry to record inventory using the lower of cost or net realizable value method (Hint: Be sure to account for the number of units of ending inventory in your calculation). Complete this question by entering your answers in the tabs below. Which type of inventory has seen the greatest decline in sales prices over the current year? qunng tne current year. rresented deiow are tnose trenas in saies prices tor eacn ot its tour types ot inventory, as well as next year 5 projected sales price. Also presented are the number of units of ending inventory and the average cost of each of those units. Click here to open the graphs in a new tab. Required: 1. Which type of inventory has seen the greatest growth in sales prices over the current year? 2. Which type of inventory has seen the greatest decline in sales prices over the current year? 3. Based on the trend lines provided, for which inventory items does management project to sell below its average unit cost in the following year (Hint: Compare projected sales prices to the bar chart showing average unit cost)? 4. Prepare the year-end adjusting entry to record inventory using the lower of cost or net realizable value method (Hint: Be sure to account for the number of units of ending inventory in your calculation). Complete this question by entering your answers in the tabs below. Based on the trend lines provided, for which inventory items does management project to sell below its average unit cost in the following year (Hint: Compare projected sales prices to the bar chart showing average unit cost)? Required: 1. Which type of inventory has seen the greatest growth in sales prices over the current year? 2. Which type of inventory has seen the greatest decline in sales prices over the current year? 3. Based on the trend lines provided, for which inventory items does management project to sell below its average unit cost in the following year (Hint: Compare projected sales prices to the bar chart showing average unit cost)? 4. Prepare the year-end adjusting entry to record ifventory using the lower of cost or net realizable value method (Hint: Be sure to account for the number of units of ending inventory in your calculation). Complete this question by entering your answers in the tabs below. Prepare the year-end adjusting entry to record inventory using the lower of cost or net realizable value method (Hint: Be sure to account for the number of units of ending inventory in your calculation). (If no entry is required for a particular transaction/event, select "No Journal Entry Roquired" in the first account field.) raved. Erher veulta veture truis. Mitchell's Specialties sells high-end furniture (dressers, chairs, sofas, and tables). The company has been in business for several years. Based on its experience, management projects next year's sales prices of year-end inventory using the trend in monthly sales prices Huring the current year. Presented below are those trends in sales prices for each of its four types of inventory, as well as next year's projected sales price. Also presented are the number of units of ending inventory and the average cost of each of those units. Click here to open the graphs in a new tab. Required: 1. Which type of inventory has seen the greatest growth in sales prices over the current year? 2. Which type of inventory has seen the greatest decline in sales prices over the current year? 3. Based on the trend lines provided, for which inventory items does management project to sell below its average unit cost in the following year (Hint Compare projected sales prices to the bar chart showing average unit cost)? 4. Prepare the year-end adjusting entry to record inventory using the lower of cost or net realizable value method (Hint: Be sure to account for the number of units of ending inventory in your calculation). Complete this question by entering your answers in the tabs below. Which type of inventory has seen the greatest growth in sales prices over the current year? ounng the current year. rresented deiow are tnose trends in saies prices tor each or its tour types ot inventory, as weil as next year 5 projected sales price. Also presented are the number of units of ending inventory and the average cost of each of those units. Click here to open the graphs in a new tab. Required: 1. Which type of inventory has seen the greatest growth in sales prices over the current year? 2. Which type of inventory has seen the greatest decline in sales prices over the current year? 3. Based on the trend lines provided, for which inventory items does management project to sell below its average unit cost in the following year (Hint: Compare projected sales prices to the bar chart showing average unit cost)? 4. Prepare the year-end adjusting entry to record inventory using the lower of cost or net realizable value method (Hint: Be sure to account for the number of units of ending inventory in your calculation). Complete this question by entering your answers in the tabs below. Which type of inventory has seen the greatest decline in sales prices over the current year? qunng tne current year. rresented deiow are tnose trenas in saies prices tor eacn ot its tour types ot inventory, as well as next year 5 projected sales price. Also presented are the number of units of ending inventory and the average cost of each of those units. Click here to open the graphs in a new tab. Required: 1. Which type of inventory has seen the greatest growth in sales prices over the current year? 2. Which type of inventory has seen the greatest decline in sales prices over the current year? 3. Based on the trend lines provided, for which inventory items does management project to sell below its average unit cost in the following year (Hint: Compare projected sales prices to the bar chart showing average unit cost)? 4. Prepare the year-end adjusting entry to record inventory using the lower of cost or net realizable value method (Hint: Be sure to account for the number of units of ending inventory in your calculation). Complete this question by entering your answers in the tabs below. Based on the trend lines provided, for which inventory items does management project to sell below its average unit cost in the following year (Hint: Compare projected sales prices to the bar chart showing average unit cost)? Required: 1. Which type of inventory has seen the greatest growth in sales prices over the current year? 2. Which type of inventory has seen the greatest decline in sales prices over the current year? 3. Based on the trend lines provided, for which inventory items does management project to sell below its average unit cost in the following year (Hint: Compare projected sales prices to the bar chart showing average unit cost)? 4. Prepare the year-end adjusting entry to record ifventory using the lower of cost or net realizable value method (Hint: Be sure to account for the number of units of ending inventory in your calculation). Complete this question by entering your answers in the tabs below. Prepare the year-end adjusting entry to record inventory using the lower of cost or net realizable value method (Hint: Be sure to account for the number of units of ending inventory in your calculation). (If no entry is required for a particular transaction/event, select "No Journal Entry Roquired" in the first account field.) raved. Erher veulta veture truis