Question: 2 3 BE6.10 Using Excel to Value Inventory at the Lower-of-Cost or 4 Net Realizable Value 5 PROBLEM 6 The following information on cost and

2 3 BE6.10 Using Excel to Value Inventory at the Lower-of-Cost or 4 Net Realizable Value 5 PROBLEM 6 The following information on cost and net realizable value of Tech-IT 7 Ltd.'s various inventory categories was gathered at December 31, 8 2021: 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 Inventory Categories Desktops Tablets and readers Laptops Accessories and parts Cost NRV $ 347,000 $ 326,000 168,700 224,000 221,020 285,000 97,400 94,300 Student Work Area Required: Provide input into cells shaded in yellow in this template. Use mathematical formulas with cell references to the Problem area or work area as indicated. a. Calculate the lower of cost and net realizable value for each inventory category within Tech-IT's inventory. Inventory Categories Desktops DA 11 Tablets and readers Laptop Accessories and parts Total LCNRV LCNRV b. Prepare the entry needed to adjust Tech-IT's inventory value to the lower of cost or net realizable value at December 31, 2021. Debit Credit

PROBLEM The folowing intormation on cost and net realzabie value of Tech-IT thd's various iventory categories was gathered at December 31, 2021: Fequired: Provide input into cels shaded in yelow in this tomplate. Use mathomatical formulas whth cell references to the Problem area or work area as indicatod. a. Cabulate the lower of cost and not realzable value for each inventory category with Tech-IT's inventory. b. Prepare the entry needed to adjust Toch-IT's inventory value to the bwer of cost or net realzablo value at December 31, 2021. Be6,10 Ueling Lxeel to Value inventery at the Lewer-fl-Goet or Net Renflirable Velve PRDELEM The folowing inlormation on ooel and net reak ably vabe of Tochit (ite.) various imventory cotegorins was gathered ar Decembee 31, 2021: Required: Provide input inlo cels shaded in yolow in tis template. Use mathomatical formulas with col reforences to the Problem area of work arear as indicated a. Cakulate the bwer of cost and net reaileable vakie for aach mentrary calegary within Tech-II's niventory. b. Prepare the ertiy needed to adfust Tech-IT ? mwentary value to the bwer of scst or fet foaleatie value at December 3t, 202t

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