Question 1

Presented below is information related to Tamarisk Inc.s inventory.

(per unit)		Skis		Boots		Parkas
Historical cost		$342.00		$190.80		$95.40
Selling price		381.60		261.00		132.75
Cost to sell		34.20		14.40		4.50
Cost to complete		57.60		52.20		38.25

Determine the following: the net realizable value for each item, and the carrying value of each item under LCNRV. (Round answers to 2 decimal places, e.g. 52.75.)

Item		Cost		NRV		LCNRV
Skis		$enter a dollar amount		$enter a dollar amount		$enter a dollar amount
Boots		enter a dollar amount		enter a dollar amount		enter a dollar amount
Parkas		enter a dollar amount		enter a dollar amount		enter a dollar amount