Inventory - Lower of Cost or Market

riegel co uses the lcnrv method on an individual item basis in pricing its inventory items the inventory at 123117 consists of products d e f g h and i relevant per unit data for these produ 29918

Nash Company began operations in 2025 and determined its ending inventory at cost and at LCNRV at December 31, 2025, andDecember 31, 2026. This information is presented below.CostLCNRV12/31/25 874,000829,30012/31/26 1,004,000 970,100(a)Your answer is partially correct.Prepare the journal entries required at December 31, 2025, and December 31, 2026, assuming that the inventory is recorded atLCNRV, and that a perpetual inventory system. Using the cost-of-goods-sold method. (Credit account titles a