The year-end inventory of Goodall Inc. consisted of the following similar groups of items, priced at cost and at net realizable value:
|
Item |
Cost |
NRV |
|
A |
$60 |
$63 |
|
B |
40 |
40 |
|
C |
80 |
78 |
|
D |
50 |
42 |
Required: Calculate ending inventory based on:
- Cost
- LCNRV (unit basis)
- LCNRV (group basis).
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