Isaiah's Gear Had the Following Ending Inventory Costs Calculate the Lower of Cost and Net Realizable Value (LCNRV)

question 11

Essay

Isaiah's Gear had the following ending inventory costs:
$$\begin{array} { | l | r | r | } \hline \text { Units an Hand } & \text { Unit Cost } & \text { Unit NRV } \\\hline 20 & \$ 50 & { \$ 6 0 } \\\hline 10 & \$ 40 & \$ 45 \\\hline 30 & \$ 30 & \$ 25 \\\hline 40 & \$ 20 & \$ 15 \\\hline\end{array}$$ Calculate the lower of cost and net realizable value (LCNRV) on an item by item basis.

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Definitions:

Nausea And Vomiting

Symptoms including unease in the stomach with an urge to vomit, often a reaction to various conditions or treatments.

Water Retention

The accumulation of excess fluids in the body tissues, often leading to swelling.

Nonparents

Individuals who do not have children, either by choice or circumstance.

Child-Free

Individuals or couples who choose not to have children.