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Determine the amount of write-down

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Whispering Corporation has the following four items in its ending inventory.

     Item                           Cost             Net Realizable

Value (NRV)

Jokers                         $2,080                 $2,184

Penguins                          5,200               5,148

Riddlers                         4,576                   4,810

Scarecrows                      3,328                 3,983

Question (1) Determine the amount of write-down, if any, using an item-by-item LCNRV evaluation. (If no write-down, enter 0 for the amounts.)

Question (2) Determine a total category LCNRV evaluation. (If no write-down, enter 0 for the amount.)

Reference no: EM132474462

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