Presented below is information related to Grouper Inc,?s inventory.

Determine the following: the net realizable value for each item, and the carrying value of each item under LCNRV.

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(per unit) Historical cost Selling price Cost to sell Cost to complete Skis $209.00 233.20 20.90 35.20 Boots $116.60 159.50 8.80 31.90 Parkas $58.30 81.13 2.75 23.38 Item Skis Boots Parkas $ Cost LA NRV LA LCNRV (per unit) Historical cost Selling price Cost to sell Cost to complete Skis $209.00 233.20 20.90 35.20 Boots $116.60 159.50 8.80 31.90 Parkas $58.30 81.13 2.75 23.38 Item Skis Boots Parkas $ Cost LA NRV LA LCNRV

Answer rating: 100% (QA)

Item Cost NRV LCNRV Skis 209... View the full answer