Assignment Details
Subject: Business / Accounting
QuestionLower-of-Cost-or-Market InventoryOn the basis of the following data:
Product Inventory
Quantity Cost per
Unit
Market Value per Unit
(Net Realizable Value)
Model A 16 $210 $230
Model B 11 44 57
Model C 23 139 118
Model D 26 177 177
Model E 19 114 117Determine the value of the inventory at the lower of cost or market. Assemble the data in the form illustrated in Exhibit 9.Inventory at the Lower of Cost or Market
Product Total Cost Total Market Lower of Total Cost or Total Market
A $ $ $
B
C
D
E
Total $ $$
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