Korkot2332 Korkot2332 27-05-2023 Business contestada Scott's Sporting Stores Inc. reported the following cost and net realizable value information for inventory at December 31: Item Units Unit Cost Unit NRV Skates: Bauer 13 $259 $400 CCM 10 $412 $350 Running shoes: Adidas 5 $120 $120 Nike 8 $117 $110 a. Calculate the ending inventory balance for skates and running shoes using the lower of cost and net realizable value for each item. b. Calculate the ending inventory balance for skates and running shoes using the historical unit costs provided. c. Compare the difference in the ending inventory amounts. Which amount provides a more faithful representation of the inventory value?
