2. Nolen Company is preparing the annual financial statements dated December 31, 2022 Information about inventory stocked for regular sale follows: Item B с D Quantity on Hand Item A B C 50 100 20 40 Unit Cost When Acquired Units 50 100 20 40 $20 45 59 40 Net Realizable Value at Year End Instructions Compute the valuation for the December 31, 2022, inventory using the lower-of-cost-or-net realizable value basis SHOW YOUR WORK $19 45 Lower-of-Cost-or Net-Realizable-Value 62 36 Extension

Fig: 1