P Moving to another question will save this response. Question 5 The following data are available for Fashionista Hair Accessories Pty Ltd at 31 December: Silk ribbons Gold-plated hair clips Crystal hair jewels w Required (a) Calculate the lower of cost and net realisable value for Fashionista Hair Accessories total inventory. (2 marks) S (b) Why is it important to account for inventory using the lower of cost and net realisable value basis? (1 mark) For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac). B I U S Paragraph Open Sans, sa... < T - 26 + ABC V Cost 10pt $25,200 18,900 29,400 R A 88 !!! Net realisable value 8.8 A V 8.C V Ix MacBook Pro $21,420 19,950 26,880 % 0 O <> 6