Question: PROBLEM #3: Using the data below record the entries for the decline in net realizable value for the Inventory under the following methods and systems:

PROBLEM #3: Using the data below record the entries for the

decline in net realizable value for the Inventory under the following methods

PROBLEM #3: Using the data below record the entries for the decline in net realizable value for the Inventory under the following methods and systems: Beginning Inventory at lower of Cost Ending Ending Purchases or NRV Inventory At Inventory at at Cost Cost N RV Sales $178,000 $146,000 $164,000 $132,000 $750,000

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