Presented below is information related to Lush Inc’s inventory:Determine the following:a) the net realizable value for each item, andb) The carrying value of each item under LCNRV. per unitTonerCreamGlovesCost$197.00107.0051.00Selling priceAmer12.00 Colle 153.00 the M9.00Cost to sell19.008.00Cost to complete28.0031.0023.00

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Description: Presented below is information related to Lush Inc’s inventory:Determine the following:a) the net realizable value for each item, andb) The carrying value of each item under LCNRV. per unitTonerCreamGlovesCost$197.00107.0051.00Selling priceAmer12.00

Net Realizable Value is the realizable benefit that can be obtained by selling the product.

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Business

Accounting

Presented below is information related to Lush Inc’s inventory: Determine the following: a) the net realizable value for each item, and b) The carrying value of each item under LCNRV.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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