inventory.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:inventory.
Unit Unit
Quantity Cost NRV
20
$95
$115
300 350
25
Calculate the total amount to be reported for ending inventory in the balance sheet.
Inventory
Ski jackets
Skis
Inventory
Ski jackets
Skis
Quantity
20
25
Lower of Cost
and NRV per unit
Ending Inventory
$
$
0
0
0
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