The inventory of ABC Company on December 31, 2018 consists of the following items: Part Quantity...

The inventory of ABC Company on December 31, 2018 consists of the following items:

Part	Quantity	cost per unit	net realizable value
A	600	95	100
B	1000	60	52
C	500	80	76
D	200	170	180
E	400	205	208
F	300	240	235

(1) Determine the inventory as of December 31, 2018, by the LCNRV method, applying this method to each item.

(2) Determine the inventory by the LCNRV method, applying the method to the total of the inventory.

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Expert Solution

ekkarill92 answered 1 year ago

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