Question: E 8-19 LOS r-of-costor-net-realizable-value method is applied to total inventory. Computing Lower of-Cost-or-Net Realizable Value Reims Company applied FIFO to its inventory and got the
E 8-19 LOS r-of-costor-net-realizable-value method is applied to total inventory. Computing Lower of-Cost-or-Net Realizable Value Reims Company applied FIFO to its inventory and got the following results for its ending inventory Running shoes 200 units at a cost per unit of 61 Tennis shoes 300 units at a cost per unit of 68 Basketball shoes 250 units at a cost per unit of 72 The net realizable value per unit at year-end was running shoes 63, tennis shoes 64, and basketball shoes 67. Determine the amount of ending inventory at lower-of-cost-or-net-realizable value
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