Question

Halicon Ltd. applies LCNRV valuation. The company’s inventory at the end of the year is as follows:



Required:
Determine the amount of any adjustment that is required to inventory, assuming inventory is valued under lower- of- cost- or- NRV valuation under each of the following valuation methods:
1. By individual type of item
2. By class ofinventory


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  • CreatedFebruary 17, 2015
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