Part No. 121 is obsolete and has a realizable value of $1.00 each as scrap. (a) Determine the inventory as of December 31, 2025, by the LCNRV method, applying this method to each item. Inventory as of December 31, 2025 $ (b) Determine the inventory by the LCNRV method, applying the method to the total of the inventory. Inventory as of December 31, 2025 $

Part No. 121 is obsolete and has a realizable value of $1.00 each as scrap. (a) Determine the inventory as of December 31, 2025, by the LCNRV method, applying this method to each item. Inventory as of December 31, 2025 $ (b) Determine the inventory by the LCNRV method, applying the method to the total of the inventory. Inventory as of December 31, 2025 $

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Description: Plz don't copy on Chegg plz different answers without plagiarism please Part No. 121 is obsolete and has a realizable value of $1.00 each as scrap.(a) Determine the inventory as of December 31, 2025, by the LCNRV method, applying this method to each

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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How would I calculate this problem? I just guessed on which answer made sense to me. Please help. thank you in advance.
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Your solution is wrong see the answers at bottom of the question
Req1-Req2 were incorrect. Can you try the problem again ?
It says they answers are wrong from your example.