Question: The information shown below relating to the ending inventory was taken from the records of Components Compary. Inuantans Required: 1. Dotermine the valuation of the

The information shown below relating to the ending inventory was taken from the records of Components Compary. Inuantans Required: 1. Dotermine the valuation of the above inventory at cost and at LCM, assuming application of the LCNRV Rule on an item by item basis. 2. Give the entry to record the writedown, if any, to reduce ending inventory to LCM. Assume periodic inventory and the allowance method. For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac)

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