Required information Problem 6-4A Report inventory using lower of cost and net realizable value (LO6-6) [The following information applies to the questions displayed below. A local Chevrolet dealership carries the following types of vehicles: Inventory Items Vans Trucks 2-door sedans 4-door sedans Sports cars SUVS Quantity 2 5 1 6 2 7 Unit Cost $21,500 16,900 11,900 15,900 31,500 27,800 Unit NRV $19,500 15,900 13,900 18,900 34,500 22,500 Because of recent increases in gasoline prices, the car dealership has noticed a reduced demand for its SUVs, vans, and trucks. Problem 6-4A Part 2 2. Determine whether each inventory item would be reported at cost or net realizable value (NRV). Enter the amount of either the Unit Cost or Unit NRV in the "Lower of Cost and NRV per unit" column and then multiply this amount by the quantity of each inventory item and enter it in the Total column. Inventory Items Cost or NRV Lower of Cost and NRV per unit Total Vans Trucks 2-door sedans 4-door sedans Sports cars SUVs Total $ 0