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[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
[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 Electronics Q uantity 100 40 Unit Cost $ 75 300 Unit NRV $ 90 250 2. Calculate ending inventory using the lower of cost and net realizable value. Inventory Quantity Lower of Cost and NRV per unit Ending Inventory Furniture Electronics
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