The data is for selected inventory items at deluxe supply Company

required:

1&2. determine the total amount to be reported as the inventory valuation at cost or net realizable value which ever is lower under lower of cost or net realizable value for each item separately and lower of total cost or total realizable value

3. determine the total amount to be reported as the inventory valuation at cost or net realizable value which ever is lower under lower of total cost or total net realizable value by group

analyze: which valuation method will yield the highest net income?

fill out: req 1 and 2, req 3 and analyze

This data is for selected Inventory items at Deluxe Supply Company. Net Realizable Value Printer Cartridges Item 119 Item 120 Item 121 Fax Machines Item 210 Item 211 Item 212 Quantity Unit Cost 36 $ 30.50 46 23.50 76 27.00 $ 30.00 26.00 30.00 32 27 26 96.00 193.00 217.00 93.00 199.00 232.00 Required: 1&2. Determine the total amount to be reported as the inventory valuation at cost or net realizable value, whichever is lower, under lower of cost or not realizable value for each item separately and lower of total cost or total realizable value 3. Determine the total amount to be reported as the inventory valuation at cost or net realizable value, whichever is lower, under lower of total cost or total net realizable value by group Analyzet Which valuation method will yield the highest net income? Complete this question by entering your answers in the tabs below. Description Quantity Unit Cost Market Value Total Cost Total Market Lower of Cost or Market $ 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 $ $ 0.00 Printer Cartridges Item 119 Item 120 Item 121 Total cartridges Fax Machines Item 210 Item 211 Item 212 Total Fax Machines Total inventory Lower of cost or market by individual items Lower of total cost or total market $ 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 $ $ $ $ $ $ 0.00 0.00 Req3 > y vul diSWEIS UIC LOUS DEUW Req 1 and 2 Req 3 Analyze Determine the total amount to be reported as the inventory valuation at cost or net lower of total cost or total net realizable value by group. (Round your answers to 2 de Lower of total cost or total market by groups Printer Cartridges Fax Machines Total inventory by groups $ 0.00 Complete this question by entering your answers in the tabs below. Req 1 and 2 Reg 3 Analyze Which valuation method will yield the highest net income? valuation method will yield the highest net income?