Isaiah's Gear had the following ending inventory costs:
$$\begin{array} { | l | r | r | }
\hline \text { Units an Hand } & \text { Unit Cost } & \text { Unit NRV } \
\hline 20 & \$ 50 & { \$ 6 0 } \
\hline 10 & \$ 40 & \$ 45 \
\hline 30 & \$ 30 & \$ 25 \
\hline 40 & \$ 20 & \$ 15 \
\hline
\end{array}$$ Calculate the lower of cost and net realizable value (LCNRV) on an item by item basis.

Question

Isaiah's Gear had the following ending inventory costs:
 $$\begin{array} { | l | r | r | } 
\hline \text { Units an Hand } & \text { Unit Cost } & \text { Unit NRV } \
\hline 20 & \$ 50 & { \$ 6 0 } \
\hline 10 & \$ 40 & \$ 45 \
\hline 30 & \$ 30 & \$ 25 \
\hline 40 & \$ 20 & \$ 15 \
\hline
\end{array}$$ Calculate the lower of cost and net realizable value (LCNRV) on an item by item basis.

Quizplus · Accepted Answer

The Answer of Isaiah's Gear had the following ending inventory costs:
 $$\begin{array} { | l | r | r | } 
\hline \text { Units an Hand } & \text { Unit Cost } & \text { Unit NRV } \
\hline 20 & \$ 50 & { \$ 6 0 } \
\hline 10 & \$ 40 & \$ 45 \
\hline 30 & \$ 30 & \$ 25 \
\hline 40 & \$ 20 & \$ 15 \
\hline
\end{array}$$ Calculate the lower of cost and net realizable value (LCNRV) on an item by item basis.

Isaiah's Gear Had the Following Ending Inventory Costs Calculate the Lower of Cost and Net Realizable Value (LCNRV)