Seved Module 2/Chapter 66 3 Required information Exercise 6-13A Calculate inventory using lower of cost and net realizable value (L06-6) [The following information applies to the questions displayed below) Part 1 of 3 Home Furnishings reports inventory using the lower of cost and net realizable value (NRV). Below is information related to its year-end inventory 112 points Inventory Furniture Electronics Quantity 290 59 Unit cost $94 490 Unit RV $109 345 Print References Exercise 6-13A Part 1 Required: 1. Calculate the total recorded cost of ending inventory before any adjustments Cost of ending inventory (before adjustment Required information Exercise 6-13A Calculate inventory using lower of cost and net realizable value (L06-6) [The following information applies to the questions displayed below.] Home Furnishings reports inventory using the lower of cost and net realizable value (NRV). Below is information related to its year-end inventory Inventory Furniture Electronics Quantity 290 59 Unit Cost $94 490 Unit NRV $109 345 Exercise 6-13A Part 2 2. Calculate ending inventory using the lower of cost and net realizable value Inventory Quantity Lower of Cont and NRV per unit Ending Inventory Furniture Electronics 290 59 $ 0 Module 2/Chapter 6b Help Save & Exit Submit Inventory Furniture Electronice Quantity 290 59 Unit. Coat 5 94 490 Unit SV $109 345 5 Part 33 Exercise 6-13A Part 3 3. Record any necessary adjustment to inventory. (if no entry is required for a transaction/event, select "No Journal Entry Required in the first account field.) 112 DOS View transactions Journal entry worksheet Record the adjustment for inventory Note: Entert before credit Transaction General Journal Debit Credit 1