Meranda Company reports the following inventory information:
What is the total value of the merchandise under LCNRV (lower of cost or net realizable value)? Show all calculations.
Definitions:
Polar Covalent Bonds
A type of chemical bond where two atoms share a pair of electrons, but the electrons are not shared equally, leading to a distribution of charge.
Water Molecules
Water molecules consist of two hydrogen atoms and one oxygen atom bonded together, making up the liquid that is vital for all forms of life on Earth.
Specific Heat
The amount of heat energy that must be supplied to raise the temperature of 1 gram of a substance by 1°C.
Heat of Fusion
The amount of heat required to convert a solid at its melting point into a liquid without changing its temperature.
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