The controller of Pharoah Yard Company is applying the lower-of-cost-or-net realizable value basis of valuing its...

Transcribed Image Text:

The controller of Pharoah Yard Company is applying the lower-of-cost-or-net realizable value basis of valuing its ending inventory. The following information is available: Net Realizable Cost Value Lawnmowers: Self-propelled $18,880 $19,040 Push type 21,840 20,160 Total 40,720 39,200 Snowblowers: Manual 33,440 33,600 Self-start 22,000 23,520 Total 55,440 57,120 Total inventory $96,160 $96,320 Compute the value of the ending inventory by applying the lower-of-cost-or-net realizable value basis. Total ending inventory $ The controller of Pharoah Yard Company is applying the lower-of-cost-or-net realizable value basis of valuing its ending inventory. The following information is available: Net Realizable Cost Value Lawnmowers: Self-propelled $18,880 $19,040 Push type 21,840 20,160 Total 40,720 39,200 Snowblowers: Manual 33,440 33,600 Self-start 22,000 23,520 Total 55,440 57,120 Total inventory $96,160 $96,320 Compute the value of the ending inventory by applying the lower-of-cost-or-net realizable value basis. Total ending inventory $