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Required information [The following information applies to the questions displayed below. A local Chevrolet dealership carries the following types of vehicles: Unit Inventory Items NRV

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Required information [The following information applies to the questions displayed below. A local Chevrolet dealership carries the following types of vehicles: Unit Inventory Items NRV Vans Trucks 2-door sedans 4-door sedans Sports cars SUVs Quantity 3 6 2 7 3 5 Unit Cost $19,500 16,500 11,500 15,500 29,500 27,000 $17,500 15,500 13,500 18,500 32,500 20,500 Because of recent increases in gasoline prices, the car dealership has noticed a reduced demand for its SUVs, vans, and trucks. 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

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