Question 1 Incorrect Mark 0.00 out of 5.00 Flag question Calculating Lower-of-Cost-or-Net Realizable Value Anne Traylor Inc. has the following information for its six inventory items on June 30. Determine the inventory cost to report on the balance sheet on June 30, assuming that the company applies the lower-of-cost-or-net realizable value rule to each individual inventory item. Lower-of-Cost-or- Inventory Item Quantity Selling Price Cost to Sell Inventory Cost Net Realizable Value #100 182 $24 $5 $16 $ #101 260 22 4 17 #115 130 35 6 31 #118 312 40 6 29 6.8 x 17 x 31 x 29 x #120 65 18 4 10 # 128 117 30 8 26 26 x Total $ 0 x Check Incorrect Marks for this submission: 0.00/5.00. Save Answers Print Next >