Bethel Co. has collected the following data related to its ending inventory:
$$\begin{array} { | l | r | r | r | }
\hline \text { Product } & \text { Units an Hand } & \text { Unit Cast } & \text { Unit NRV } \
\hline 849 & 200 & \$ 12 & \$ 11 \
\hline 842 & 160 & \$ 13 & \$ 14 \
\hline 847 & 85 & \$ 12 & \$ 13 \
\hline 860 & 40 & \$ 21 & \$ 22 \
\hline
\end{array}$$ Calculate the lower of cost and net realizable value (LCNRV) on an item by item basis.

Question

Bethel Co. has collected the following data related to its ending inventory:
 $$\begin{array} { | l | r | r | r | } 
\hline \text { Product } & \text { Units an Hand } & \text { Unit Cast } & \text { Unit NRV } \
\hline 849 & 200 & \$ 12 & \$ 11 \
\hline 842 & 160 & \$ 13 & \$ 14 \
\hline 847 & 85 & \$ 12 & \$ 13 \
\hline 860 & 40 & \$ 21 & \$ 22 \
\hline
\end{array}$$ Calculate the lower of cost and net realizable value (LCNRV) on an item by item basis.

Quizplus · Accepted Answer

The Answer of Bethel Co. has collected the following data related to its ending inventory:
 $$\begin{array} { | l | r | r | r | } 
\hline \text { Product } & \text { Units an Hand } & \text { Unit Cast } & \text { Unit NRV } \
\hline 849 & 200 & \$ 12 & \$ 11 \
\hline 842 & 160 & \$ 13 & \$ 14 \
\hline 847 & 85 & \$ 12 & \$ 13 \
\hline 860 & 40 & \$ 21 & \$ 22 \
\hline
\end{array}$$ Calculate the lower of cost and net realizable value (LCNRV) on an item by item basis.

Bethel Co Has Collected the Following Data Related to Its Ending