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what should my approach be ? Required information [The following information applies to the questions displayed below.) Great Sounds Company sells various electronics including computers
what should my approach be ?
Required information [The following information applies to the questions displayed below.) Great Sounds Company sells various electronics including computers and televisions. The company reports inventory using the lower of cost and net realizable value (NRV). Data related to its year-end inventory follows Inventory Quantity Unit Cost Unit NRV Televisions 250 $ 90 $105 Computers 55 450 325 Required: 1. Calculate the total recorded cost of ending inventory before any adjustments. Cost of ending inventory (before adjustment) 0 Required information [The following information applies to the questions displayed below.) Great Sounds Company sells various electronics including computers and televisions. The company reports inventory using the lower of cost and net realizable value (NRV). Data related to its year-end inventory follows. Inventory Quantity Unit Cost Unit NRV Televisions 250 $ 90 $105 Computers 55 325 450 2. Calculate ending inventory using the lower of cost and net realizable value. Quantity Lower of Cost and NRV per unit Ending Inventory Inventory Televisions Computers $ 0 Step by Step Solution
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