Problem 5 Clothing Co. applies the lower of cost or net realizable value (NRV) inventory. Data regarding the items in work-in-process inventory are shown below:

Under the lower of cost or NRV rule, how much should the pants be valued at?

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Problem 5 Clothing Co. applies the lower of cost or net realizable value (NRV) inventory. Data regarding the items in work-in-process inventory are shown below: Historical cost Selling Price Estimated Cost to Complete Shirts P 56,640 108,800 14,400 Pants P90,000 108,000 20,400 12. Under the lower of cost or NRV rule, how much should the pants be valued at