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SOLVED: Powder Ski Shop reports inventory using the lower of cost and net realizable value (NRV). Below is information related to its year-end inventory:Inventory Quantity Unit Cost NRV Ski Jackets 20 11595 Skis 25 300350Calculate the total amount to be reported for ending inventory.Inventory Quantity Lower of Cost and NRV per unit Ending Inventory Ski jackets 20 95 1,900Skis
SOLVED: Powder Ski Shop reports inventory using the lower of cost …
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