part c

E Question Help It is December 31, 2020, end of year, and the controller of Gardner Corporation is applying the lower-of-cost-or-net-realizable-value (LCNRV) rule to inventories. Before any year-end adjustments Gardner has these data: Cost of goods sold $ 430,000 Historical cost of ending inventory as determined by a physical count 63.000 Gardner determines that the net realizable value of ending inventory is $54,000 Show what Gardner should report for ending inventory and for cost of goods sold Identify the financial statement where each item appears. How would investors and creditors know about the change in inventory value? Cost of goods sold will be reported on the income statement at $ 439000 How would investors and creditors know about the change in inventory value? OA. The adjustment of the inventory between the historical cost and the net realidye value is posted under the Inventory account in the financial statements OB. The change in inventory value would be disclosed in the notes to the financial statements . C. Investors and creditors would have receipts showing the historical cost of the inventory and notice the reported value in the financial statements OD. The change in inventory value would be shown as a loss in the financial statements Click to select your answer and then click Check Answer All parts showing Clear All Final Check