Question: NEED a explain about this formulation specifically. How effect of NRV? and How effect net income? Effect on Net Income of Adjusting Inventory to Net

NEED a explain about this formulation specifically. How effect of NRV?

NEED a explain about this formulation specifically. How effect of NRV? and How effect net income?

Effect on Net Income of Adjusting Inventory to Net Realizable Value Allowance account is adjusted in subsequent periods, such that inventory is reported at the LCNRV. Illustration 9.8 shows net realizable value evaluation for Vuko Company and the effect of net realizable value adjustments on income

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