The following inAssignmentation pertains to the inventory of two items of inventory. The company accounts for...

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The following inAssignmentation pertains to the inventory of two items of inventory. The company accounts for its inventory at LCNRV on an individual item basis: Item A Item B Original Cost $150,000 175,000 Estimated Selling Price Costs to complete and sell 35,000 Complete this table: Net Realizable Value Item Balance Sheet Value Explain how determined Balance Sheet Value (show computation below) A B Show NRV computation, clearly labeled, below: Elements of computation: Item A Item B Prepare any needed adjusting journal entry(ies) for inventory based on the above computations and determinations assuming any loss is not considered unusual or significant. $200,000 350,000 50,000 The following inAssignmentation pertains to the inventory of two items of inventory. The company accounts for its inventory at LCNRV on an individual item basis: Item A Item B Original Cost $150,000 175,000 Estimated Selling Price Costs to complete and sell 35,000 Complete this table: Net Realizable Value Item Balance Sheet Value Explain how determined Balance Sheet Value (show computation below) A B Show NRV computation, clearly labeled, below: Elements of computation: Item A Item B Prepare any needed adjusting journal entry(ies) for inventory based on the above computations and determinations assuming any loss is not considered unusual or significant. $200,000 350,000 50,000

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2 a Complete the table Item NRV 10000 Bakanu sheet value 150000 A B 100000 200000 NRUG ... View the full answer