Lower of cost and net realizable value (NRV) The December 31, 2014 inventory of Rhode Inc.consisted of four products, for which certain information is provided below: Instructions Using the lower of cost and NRV approach applied on an individual-item basis, calculate the inventory valuation that should be reported for each product on December 31, 2014.

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Lower of cost and net realizable value (NRV) The December 31, 2014 inventory of Rhode Inc.consisted of four products, for which certain information is provided below:  Instructions Using the lower of cost and NRV approach applied on an individual-item basis, calculate the inventory valuation that should be reported for each product on December 31, 2014.

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The Answer of Lower of cost and net realizable value (NRV) The December 31, 2014 inventory of Rhode Inc.consisted of four products, for which certain information is provided below:  Instructions Using the lower of cost and NRV approach applied on an individual-item basis, calculate the inventory valuation that should be reported for each product on December 31, 2014.

Lower of Cost and Net Realizable Value (NRV) the December