Scott's Sporting Stores Inc. reported the following cost and net realizable value information for inventory at December 31: Product Item Units Unit Cost Unit NRV Skates: Bauer CCM Running shoes: Adidas Nike 14 11 5 9 Ending inventory balance $ $265 $411 The Choose... $117 $116 $406 $343 Calculate the ending inventory balance for skates and running shoes using the lower of cost and net realizable value for each item. $117 $109 Calculate the ending inventory balance for skates and running shoes using the historical unit costs provided. Ending inventory balance $ Compare the difference in the ending inventory amounts. Which amount provides a more faithful representation of the inventory value? + method provides a more faithful representation of the inventory value.

Scott's Sporting Stores Inc, reported the following cost and net realizable value information for inventory at December 31 : Calculate the ending inventory balance for skates and running shoes using the lower of cost and net realizable value for each item. Ending inventory balance \& Calculate the ending inventory balance for skates and running shoes using the historical unit costs provided. Ending inventory balance $ Compare the difference in the ending inventory amounts. Which amount provides a more faithful representation of the inventory value? The method provides a more faithful representation of the inventory value