Please do not give solution in image format thanku Exercise 6-10 Lower of cost and net realizable value LO4Showtime Company's ending inventory at December 31, 2023, includes the following items:Units onHandNet RealizableValue Per Unit$115ProductBBFMMBSL205155Unit Cost$ 110145LCNRV applied to inventory18678Required:Calculate LCNRV for the inventory:a. As a whole (assuming the items are similar).b. Applied separately to each product.138172 b. Applied separately to each product.ProductBBFMMBSL$TotalCostView transaction listView transaction list<0 $c. Prepare the appropriate adjusting entry, if required, based on your calculations in (b).TotalNRVJournal entry worksheet1Journal entry worksheetLCNRVapplied toEach Product0 $DateDec 31, 2023c. Prepare the appropriate adjusting entry, if required, based on your calculations in (b).Note: Enter debits before credits.0Record the entry to write down inventory to NRV.General JournalPrev3 of 5DebitNextCredit

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Description: Please do not give solution in image format thanku Exercise 6-10 Lower of cost and net realizable value LO4Showtime Company's ending inventory at December 31, 2023, includes the following items:Units onHandNet RealizableValue Per Unit$115ProductBBFMM

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Exercise 6-10 Lower of cost and net realizable value LO4 Showtime Company's ending inventory at December 31, 2023, includes the following items: Units on Hand Net Realizable Value Per Unit 37 $115 20 138 51 172 55 92 Product BB FM MB SL Unit Cost $ 110 LCNRV applied to inventory 145 186 78 Required: Calculate LCNRV for the inventory: a. As a whole (assuming the items are similar).

Exercise 6-10 Lower of cost and net realizable value LO4 Showtime Company's ending inventory at December 31, 2023, includes the following items: Units on Hand Net Realizable Value Per Unit 37 $115 20 138 51 172 55 92 Product BB FM MB SL Unit Cost $ 110 LCNRV applied to inventory 145 186 78 Required: Calculate LCNRV for the inventory: a. As a whole (assuming the items are similar).

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter10: Inventory

Section: Chapter Questions

Problem 4PB: Calculate the cost of goods sold dollar value for B74 Company for the sale on November 20,...

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