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Question 5 Cody Camera Shop Ltd. reports the following cost and net realizable value information for its inventory at De
Posted: Wed Jul 06, 2022 6:10 am
by answerhappygod
- Question 5 Cody Camera Shop Ltd Reports The Following Cost And Net Realizable Value Information For Its Inventory At De 1 (33.54 KiB) Viewed 10 times
Question 5 Cody Camera Shop Ltd. reports the following cost and net realizable value information for its inventory at December 31: Cameras: Sony Canon Light Meters: Gossen Seconic Units Unit Cost Unit NRV 4 8 12 $175 150 135 115 $160 152 139 110 Instructions (a) Determine the lower of cost and net realizable value of the ending inventory. (b) Prepare the adjusting journal entry required, if any, to record the lower of cost and net realizable value of the inventory assuming Cody Camera Shop uses a perpetual inventory system.