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Peterson Furniture Designs is preparing its annual financial statements dated December 31. Ending inventory information about the five major items stocked for regular sale
Peterson Furniture Designs is preparing its annual financial statements dated December 31. Ending inventory information about the five major items stocked for regular sale follows: Required: 1-a. Complete the final two columns of the table. Ending Inventory Unit Cost Item Quantity on Hand When Net Realizable LC&NRV Total Acquired Value at per Item LC&NRV (FIFO) Year-End Alligator Armoires 56 $ 21 $ 18 Bear Bureaus 81 46 46 Cougar Beds 16 56 58 Dingo Cribs 36 36 . 36 Elephant Dressers 430 16 12
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