Chrome File Edit View History Bookmarks Profiles Tab Window Help G D Q Sat Oct 29 9:00 PM Question 1 - Question 10 x C [The followin X Course Hero X Homework H X Homework H Course Hero X Course Hero X Homework H X + C ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fnewconnect.mheducation.com%252F#/activity/q... D2L Homepage - Pima... Class ACC 211 Fin... M Inbox (6) - bburns... x Pima Community... O Acct I Ch 1 Flashc... Chapter 6 Homework i Saved Help Save & Exit Submit Check my work 10 Rustic Furnishings reports inventory using the lower of cost and net realizable value (NRV). Below is information related to its year-end inventory. Inventory Quantity Unit Cost Unit NRV Furniture 110 $76 $91 0.75 Electronics 41 310 260 points Required: 1. Calculate the total recorded cost of ending inventory before any adjustments. eBook 2. Calculate ending inventory using the lower of cost and net realizable value. 3. Record any necessary adjusting entry for inventory. Hint 4. Determine the impact of the adjusting entry in the financial statements. Print References Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Calculate the total recorded cost of ending inventory before any adjustments. Cost of ending inventory (before adjustment) Required 1 Required 2 > Mc Graw Hill 29 aliChrome File Edit View History Bookmarks Profiles Tab Window Help G D Q Sat Oct 29 9:00 PM Question 1 - Question 10 x C [The followin X Course Hero X Homework H X Homework H Course Hero X Course Hero X Homework H X + C ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fnewconnect.mheducation.com%252F#/activity/q... D2L Homepage - Pima... Class ACC 211 Fin... M Inbox (6) - bburns... x Pima Community... O Acct I Ch 1 Flashc... Chapter 6 Homework i Saved Help Save & Exit Submit Check my work 10 Rustic Furnishings reports inventory using the lower of cost and net realizable value (NRV). Below is information related to its year-end inventory. Inventory Quantity Unit Cost Unit NRV Furniture 110 $76 $91 0.75 Electronics 41 310 260 points Required: 1. Calculate the total recorded cost of ending inventory before any adjustments. eBook 2. Calculate ending inventory using the lower of cost and net realizable value. 3. Record any necessary adjusting entry for inventory. Hint 4. Determine the impact of the adjusting entry in the financial statements. Print References Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Calculate ending inventory using the lower of cost and net realizable value. Lower of Cost Inventory Quantity and NRV per Ending Inventory unit Furniture 110 Electronics 41 Mc Graw Hill 29Chrome File Edit View History Bookmarks Profiles Tab Window Help G D Q Sat Oct 29 9:01 PM Question 1 - Question 10 x C [The followin X Course Hero X Homework H X Homework H Course Hero X Course Hero X Homework H X + C ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fnewconnect.mheducation.com%252F#/activity/q... D2L Homepage - Pima... Class ACC 211 Fin... M Inbox (6) - bburns... Pima Community... Q Acct | Ch 1 Flashc... Chapter 6 Homework i Saved Help Save & Exit Submit Check my work 10 View transaction list 0.75 Journal entry worksheet points eBook Hint Record any necessary adjusting entry for inventory. Print References Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general journal Mc Graw Hill 29Chrome File Edit View History Bookmarks Profiles Tab Window Help G D Q Sat Oct 29 9:01 PM Question 1 - Question 10 x C [The followin X Course Hero X Homework H X Homework H Course Hero X Course Hero X Homework H X + C ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fnewconnect.mheducation.com%252F#/activity/q... D2L Homepage - Pima... Class ACC 211 Fin... M Inbox (6) - bburns... Pima Community... Q Acct | Ch 1 Flashc... Chapter 6 Homework i Saved Help Save & Exit Submit Check my work 10 Inventory Quantity Unit Cost Unit NRV Furniture 110 $76 $91 Electronics 41 310 260 Required: 0.75 1. Calculate the total recorded cost of ending inventory before any adjustments. points 2. Calculate ending inventory using the lower of cost and net realizable value. 3. Record any necessary adjusting entry for inventory. 4. Determine the impact of the adjusting entry in the financial statements. eBook Hint Complete this question by entering your answers in the tabs below. Print References Required 1 Required 2 Required 3 Required 4 Explain the impact of the adjusting entry in the financial statements. (Amounts to be deducted should be entered with minus sign.) Income Statement: Revenues Expenses = Net Income Balance Sheet: Stockholders' Assets Liabilities + Equity Mc Graw Hill 29 atli