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Required information [The following information applies to the questions displayed below.] Home Furnishings reports inventory using the lower of cost and net realizable value

Required information [The following information applies to the questions displayed below.] Home Furnishings reports inventory using the lower of cost and net realizable value (NRV). Below is information related to its year-end inventory. Inventory Furniture Quantity 300 Unit Cost $ 95 Unit NRV $110 Electronics 60 500 350 Required: 1. Calculate the total recorded cost of ending inventory before any adjustments. Cost of ending inventory (before adjustment)

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