Please do all requirements! Thank you Problem 9-1 (Algo) Lower of cost or...
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Problem 9-1 (Algo) Lower of cost or net realizable value; by product and by total inventory [LO9-1] Decker Company has five products in its Inventory. Information about ending Inventory follows. The cost to sell for each product consists of a 10 percent sales commission. Requlred: 1. Determine the carrying value of ending Inventory, assuming the lower of cost or net realizable value (LCNRV) rule Is applied Individual products. 2. Determine the carryIng value of ending Inventory, assuming the LCNRV rule is applied to the entire Inventory. 3. Assuming Inventory write-downs are common for Decker, record any necessary year-end adjusting entry based on the amo calculated in requirement 2. Complete this question by entering your answers in the tabs below. Determine the carrying value of ending inventory, assuming the lower of cost or net realizable value (LCNRV) rule is applied to individual products. Note: Do not round intermediate calculations
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