The cost is still $50, and the cost to prepare it for sale is $20, so the net realizable value is $45 ($115 market value - $50 cost - $20 completion cost). Since the net realizable value of $45 is lower than the cost of $50, you should record a loss of $5 on the inventory item, thereby reducing its recorded cost to $45.
Scenes in Art. The Nile River often influenced the content of Egyptian art. A boat with many oars was a common scene in Predynastic art, but scenes involving hunting or vegetation along the Nile were depicted in art across many periods.
Sculpture is the most common example of Egyptian art that we have today, and specimens exist that date to the Predynastic period. Most of these are pottery and figurines, but these already show expressionistic qualities in the painting of the pottery, and many clay figures even represent local gods. In the Old Kingdom ( roughly 2700-2100 B.C.), sculpture mainly represented the royal family members. They were portrayed in a very solid, symmetrical, blocklike fashion.