Compute the LCNRV Valuation for Gantner Company's Total Inventory Based

question 190

Essay

Compute the LCNRV valuation for Gantner Company's total inventory based on the following: $\begin{array}{rrr}\text { Inventory Categories}&\text { Cost Data }&\text { NRV }\\\hline\mathrm{A} & \$ 18,000 & \$ 16,900 \\\mathrm{~B} & 13,900 & 14,600 \\\mathrm{C} & 21,000 & 20,500\end{array}$

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Definitions:

Impulsive Decision

A choice made quickly and without much thought, often based on immediate desires or feelings rather than careful consideration.

Subconscious Ego

A component of the psyche that operates below the level of conscious awareness, influencing thoughts, feelings, and behaviors, often derived from Freudian psychological theory.

George Herbert Mead

An American sociologist known for his contributions to the development of symbolic interactionism, emphasizing the importance of communication and the social self in understanding society.

Social Beings

Refers to the inherently social nature of humans, who seek and form relationships and communities as part of their identity and survival.