QS 6-10 Applying LCNRV to inventories L04 QS 6-10 Applying LCNRV to inventories L04 Thrifty Trading Co. has the following products in its ending inventory at December 31, 2017: Quantity Product Aprons Bottles Candles 9 12 25 Cost $6.00 3.50 8.00 Per Unit NRV $5.50 4.25 7.00 a. Calculate LCNRV for the inventory as a whole, if applicable. b. Calculate LCNRV applied separately to each product. c. Prepare the appropriate adjusting entry, if any, assuming your calculations in (6). OS 6-12 Estimating Inventories gross profit method 06