Coronado Company sells two  types of inventory, MP3 players and Blu Ray /3 players. The MP3 players  originally cost $2,250 and have a net realizable value $1,075 while the  Blu Ray players had an original cost of $500 and have a net realizable  value of $700. Calculate the year end adjustment to Inventory when  applying the lower of cost and net realizable value on an item by item  basis.

Answer rating: 100% (QA)

Yearend adjustment required will be for 1175 for MP3 players Explanation and workings Under ... View the full answer