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The Net Realizable Value of Majik's Ending Inventory Items at June

Question 106

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The net realizable value of Majik's ending inventory items at June 30, 2020 are as follows:
The net realizable value of Majik's ending inventory items at June 30, 2020 are as follows: Make the adjusting entry, if needed, to state Majik's inventory at its lower of cost and net realizable value (LCNRV) on an item-by-item basis at June 30, 2020. Make the adjusting entry, if needed, to state Majik's inventory at its lower of cost and net realizable value (LCNRV) on an item-by-item basis at June 30, 2020.
The net realizable value of Majik's ending inventory items at June 30, 2020 are as follows: Make the adjusting entry, if needed, to state Majik's inventory at its lower of cost and net realizable value (LCNRV) on an item-by-item basis at June 30, 2020.

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