Question: Question 2 (3 points) Manitoba Boots is in the process of updating the cost of its inventory. The following table shows the LCNRV calculation for

Question 2 (3 points) Manitoba Boots is in the process of updating the cost of its inventory. The following table shows the LCNRV calculation for their March 31 year-end. Required: Prepare any adjusting journal entry that may be required by Manitoba Boots based on the above LCNRV calculation Cost Unit NRVI Unit Product Units Total Cost Total NRV LCNRV Sandals $15 $19 $600 $760 $600 Loafers 860 780 780 Boots 28 1380 1,680 1,320 Total $2,840 $2,700

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