Lower-of-Cost and Net Realizable Value Method The following data are taken from the Smith & Barney Corporation's inventory accounts: Unit Net Realizable Cost Value $16 Lower (by Item) $1,600 $22 33 37 9,900 23 18 7,200 7,260 33 39 $25,960 Item Code Quantity ZKE 100 XYF 300 MNJ 400 UBS 220 Cost NRV $2,200 $1,600 9,900 11,100 9,200 7,200 7,260 8,580 $28,560 $28,480 Calculate the value of the company's ending inventory using the lower of cost and net realizable value method applied to each item of inventory. Ending Inventory Value: $ Check

Lower-of-Cost and Nett Realizable Value Method The following data are taken from the Smith \& Barney Corporation's inventory accounts: Calculate the value of the company's ending inventory using the lower of cost and net realizable value method applied to each item of inventory. Ending Imventory Value: 3