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Rios, Incorporation began operations in 2014 and determined its ending inventory at cost and at a net realizable value (NRV) at December 31, 2014,

Rios, Incorporation began operations in 2014 and determined its ending inventory at cost and at a net realizable value (NRV) at December 31, 2014, and December 31, 2015 as follows: Net Realizable Value 12/31/2014 240,000 220,000 12/31/2015 240,000 230,000 Instructions: The journal entry required at December 31, 2014, if the inventory is recorded at LCNRV, Choose... using a perpetual Cost

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