Question: Using the following data regarding clothing inventory determine the value

Using the following data regarding clothing inventory, determine the value of the inventory at the lower of cost and NRV. Complete the calculation on an individual basis for model numbers 236, 238, and 135 and for the whole of the 333 series.
a. At what amount should the inventory be valued?
b. What possible reasons can explain the changes in the price? What are selling costs?
c. Will the company sell the inventory for its value as calculated in (a) above?

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  • CreatedSeptember 15, 2015
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