On the basis of the following data, determine the value of the inventory at the lower-of-cost-or-market...
On the basis of the following data, determine the value of the inventory at the lower-of-cost-or-market by applying lower-of-cost-or-market to each inventory item, as shown in Exhibit 10.
ItemInventory QuantityCost per UnitMarket Value per Unit
(Net Realizable Value)
JFW1 90$50$55
SAW9183 26 22
Homework Answers
| Item | quantity | Cost per unit | Market value per unit | Cost | Total market | LCM |
| JFW1 | 90 | 50 | 55 | 4500 | 4950 | 4500 |
| SAW9 | 183 | 26 | 22 | 4758 | 4026 | 4026 |
| Total | 9258 | 8976 | 8526 | |||
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On the basis of the following data, determine the value of the
inventory at the lower-of-cost-or-market...
Lower-of-Cost-or-Market Method On the basis of the following data, determine the value of the inventory at...
Lower-of-Cost-or-Market Method On the basis of the following data, determine the value of the inventory at the lower-of-cost-or-market by applying lower-of-cost-or-market to each inventory Item, as shown in Exhibit 10. TtemInventory QuantityCost per UnitMarket Value per Unit(Net Realizable Value)JFW199$23$21SAW92071217
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