Service R Us has products in its ending merchandise inventory as of December 31, 2023 as listed in the table below. 

REQUIRED:  

Calculate the lower of cost and net realizable value (LCNRV) applied separately to each product. Complete the table below. 

 

Transcribed Image Text:

Product Keyboards External drives Screens Total Quantity Cost/unit NRV/unit 80 $90 $95 52 75 36 57 105 90 Total Total Cost NRV $7,200 $7,600 $4,275 $3,900 $3,780 $3,240 $15,255 $14,740 LCNRV Product Keyboards External drives Screens Total Quantity Cost/unit NRV/unit 80 $90 $95 52 75 36 57 105 90 Total Total Cost NRV $7,200 $7,600 $4,275 $3,900 $3,780 $3,240 $15,255 $14,740 LCNRV

Answer rating: 100% (QA)

Product Quantity CostUnit NRVunit Total Cost Tota... View the full answer