Question: Please provide a detailed working for the solution. Use the following information below to answer Questions 11 & 12 only. The inventory of Gordon Ltd

Please provide a detailed working for the solution. Use the following

Please provide a detailed working for the solution.

Use the following information below to answer Questions 11 & 12 only. The inventory of Gordon Ltd contains the following items at 30 June 2019. Item type 3011 2825 Quantity 75 40 Cost $3.00 Unit Price Net realisable value $2.60 7.00 6.00 11. Applying the lower of cost and net realisable value rule to item 3011 what is the value of ending inventory: a. $30. b. $450. c. $225. d. $195. 12. Applying the lower of cost and net realisable value rule to item 2825 what is the value of ending inventory: a. $240. b. $280. c. $104. d. $40

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