Solution-Compute the lower-of-cost-or-net realizable value

Compute the lower-of-cost-or-net realizable value

Reference no: EM13531039

Franklin Company has the following four items in its ending inventory as of December 31, 2012. The company uses the lower-of-cost-or-net realizable value approach for inventory valuation following IFRS.

Item No.	Cost	Net Realizable Value
AB	$1,700	$1,400
TRX	2,200	2,300
NWA	7,800	7,100
SGH	3,000	3,700

Compute the lower-of-cost-or-net realizable value.

Reference no: EM13531039

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Compute the lower-of-cost-or-net realizable value

Reference no: EM13531039

Reference no: EM13531039

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