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Presented below is information related to Pear Corp's inventory at : 12/31/2019 Hats Gloves Boots Historic Cost 52 48 95 Selling Price 70 53 106

Presented below is information related to Pear Corp's inventory at : 12/31/2019
Hats Gloves Boots
Historic Cost 52 48 95
Selling Price 70 53 106
Costs to sell 6 5 10
Costs to complete 10 8 16
INSTRUCTIONS:
A Compute the lower of cost or net realizable value for each item.
B Prepare the journal entry to record the inventory at its appropriate value using the
loss method. (assume this is the first year of operations)

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