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O'Connor Co. has collected the following data related to its ending inventory: Product No. of units Cost/unit NRV/ unit 849 150 $ 10 $ 11

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O'Connor Co. has collected the following data related to its ending inventory: Product No. of units Cost/unit NRV/ unit 849 150 $ 10 $ 11 842 60 16 14 847 75 14 13 860 30 16 20 REQUIRED a. Calculate the lower of cost and net realizable value (LCNRV) on an item by item basis and then on the group basis b. Prepare an adjusting entry

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