Problem $9-1($Algo$)$ Lower of cost or net realizable value; by product and by total Inventory $[$LO$9-1]$ Determine the carrying value of ending inventory, assuming the LCNRV rule is applied to the entire inventory.

Note: Do not round intermediate calculations.

Inventory carrying value Assuming inventory write$-$downs are common for Decker, record any necessary year$-$end adjusting entry based on the amount calculated

in requirement $2.$

Note: If no entry is required for a transaction$/$event$,$ select $"$No journal entry required" in the first account field.

Journal entry worksheet

Record any necessary year$-$end adjusting entry assuming that inventory write$-$

downs are common for Decker Company.

Nate: Enter debits before credits.

Decker Company has five products in its inventory. Information about ending inventory follows.

The cost to sell for each product consists of a $10$ percent sales commission.

Required:

Determine the carrying value of ending inventory, assuming the lower of cost or net realizable value $($LCNRV$)$ rule is applied to

individual products.

Determine the carrying value of ending inventory, assuming the LCNRV rule is applied to the entire inventory.

Assuming inventory write$-$downs are common for Decker, record any necessary year$-$end adjusting entry based on the amount

calculated in requirement $2.$

Complete this question by entering your answers in the tabs below.

Required $3$

Determine the carrying value of ending inventory, assuming the lower of cost or net realizable value $($LCNRV$)$ rule is applied to

individual products.

Note: Do not round intermediate calculations.