Question

On April 1, Robert LLC purchased two units of inventory, A and B. The cost of unit A was $650, and the cost of unit B was $625. On April 30, Robert LLC had not sold the inventory. The net realizable value of unit A was now $685 while the net realizable value of unit B was $550. The adjustment associated with the lower-of-cost-or-net realizable value method on April 30 will be:

Answer 1

Cost of goods sold: 50
Inventory : 50