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Calculating Lower-of Cost-or-Net Realizable Value The following information is from Guccii Companys...

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Accounting

Calculating Lower-of Cost-or-Net Realizable Value
The following information is from Guccii Companys individual inventory items as of December 31.
Inventory Quantity Cost per Unit Net Realizable Value per Unit
Classification:Premium
Item 1152 $180 $185
Item 228510098
Item 3380165175
Item 4266158120
Classification: Classic
Item 519010098
Item 6959095
Item 7950105115
Item 85328075
Required
a. Calculate lower-of-cost-or-net realizable value of Guccii's December 31 inventory applying the rule to each individual item. $Answer
0
b. Calculate lower-of-cost-or-net realizable value of Guccii's December 31 inventory applying the rule by inventory category. $Answer
0
c. Calculate lower-of-cost-or-net realizable value of Guccii's December 31 inventory applying the rule to total inventory. $Answer
0

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