Bramble Furniture Shop Inc

Subject:AccountingPrice: Bought3

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Bramble Furniture Shop Inc. uses the lower of cost and net realizable value basis (LCNRV) for reporting its inventory. The following data are available at December 31. Units Cost/Unit Net Realizable Value Tables Large 23 $271 $260 Small 16 137 155 Chairs Plastic 42 45 44 Wooden 39 20 29 (a) What amount should be reported on Bramble Furniture Shop's financial statements, after the lower of cost and net realizable value rule is applied to individual inventory items? LCNRV Tables: Large $enter a dollar amount Small enter a dollar amount Chairs: Plastic enter a dollar amount Wooden enter a dollar amount Total $enter a total amount for this column