Principles of Accounting Volume 1
Principles of Accounting Volume 1
19th Edition
ISBN: 9781947172685
Author: OpenStax
Publisher: OpenStax College
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Question: 36
Powder Ski Shop reports inventory using the lower cost and net
realizable value (NRV). Below is information related to its year-end
inventory.
Inventory
Quantity
Cost
NRV
Ski jackets
15 $119
$ 99
Skis
20
$340
$390
Calculate the amount to be reported for ending inventory.
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Transcribed Image Text:Question: 36 Powder Ski Shop reports inventory using the lower cost and net realizable value (NRV). Below is information related to its year-end inventory. Inventory Quantity Cost NRV Ski jackets 15 $119 $ 99 Skis 20 $340 $390 Calculate the amount to be reported for ending inventory.
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