Using the lower of cost or market, what should the total inventory value be for the...
Using the lower of cost or market, what should the total inventory value be for the following items:
Item |
Inventory Quantity |
Cost per Unit |
Market Value per Unit |
Total Cost Price |
Total Market Price |
Lower of Cost or Market |
| A | 175 | $10 | $13 | $1,750 | $2,275 | $ |
| B | 77 | $19 | $16 | $1,463 | $1,232 | $ |
| C | 40 | $23 | $25 | $920 | $1,000 | $ |
| $ |
Homework Answers
| Item | Inventory Quantity | Cost per unit | Market value per unit | Total cost price [A] | Total market price [B] | Lower of Cost or Market [ Lower of A and B ] |
| A | 175 | 10 | 13 | 1750 | 2275 | 1750 |
| B | 77 | 19 | 16 | 1463 | 1232 | 1232 |
| C | 40 | 23 | 25 | 920 | 1000 | 920 |
| 3902 |
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Using the lower of cost or market, what should the total
inventory value be for the...
Using the lower of cost or market, what should the total inventory value be for the...
Using the lower of cost or market, what should the total inventory value be for the following items: Unit Cost Unit Market Total Cost Total Market Lower of Cost or Item Quantity Price Price Price Market A 183 $10 $1,098 $1,830 B 103 18 1,854 1,648 Price 902 984
Using the lower of cost or market, what should the total inventory value be for the...
Using the lower of cost or market, what should the total inventory value be for the following items: Item Quantity Unit Cost Price Unit Market Price Total Cost Price Total Market Price Lower of Cost or Market A 208 $7 $10 $1,456 $2,080 $ B 106 $14 $12 $1,484 $1,272 $ C 67 $24 $27 $1,608 $1,809 $ $
per Unit Jake Stone Company evaluated its inventory using the Lower of Cost or Market method....
per Unit Jake Stone Company evaluated its inventory using the Lower of Cost or Market method. If the Lower of Cost or Market was applied to the following items, what should the total inventory value be? Inventory Cost per Market value Total Total Item Quantity Unit Cost Market 300 $15.00 $14.50 $4,500 $4,350 200 $14.00 $15.00 $2,800 $3,000 $17.00 $17.50 $1,700 $1,750 100
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. Unit Market Price Unit Cost Price Item Inventory Quantity $36 $34 54 IA17 16 18 108 BJ54 X Feedback Check My Work Under lower-of-cost-or-market, for each item in inventory, choose the lower of total cost price or the total market price as the assigned value for computing inventory cost. First...
Lower-of-Cost-or-Market Inventory On the basis of the following data, determine the value of the inventory at...
Lower-of-Cost-or-Market Inventory On the basis of the following data, determine the value of the inventory at the lower of cost of market. Assemble the data in the form illustrated in Bibit Inventory Item Inventory Quantity Unit Market Value per Unit (Net Realizable Value) $282 212 Birch $297 Cypress 204 Mountain Ash 13 Spruce 39 292 Willow Inventory at the Lower of Cost or Market Total Cost Total Market Total Lower of Cor Inventory Item Birch Cypress Mountain Ash Spruce WO...
Lower-of-Cost-or-Market Inventory On the basis of the following data, determine the value of the inventory at...
Lower-of-Cost-or-Market Inventory On the basis of the following data, determine the value of the inventory at the lower of cost or market. Assemble the data in the form illustrated in Exhibit 9. Inventory Item Inventory Quantity Cost per Unit Market Value per Unit (Net Realizable Value) Birch 34 $84 $103 Cypress 43 267 267 Mountain Ash 12 97 92 Spruce 40 215 237 Willow 14 176 161 Inventory at the Lower of Cost or Market Inventory Item Total Cost Total...
Lower-of-Cost-or-Market Inventory On the basis of the following data, determine the value of the inventory at the lower...
Lower-of-Cost-or-Market Inventory On the basis of the following data, determine the value of the inventory at the lower of cost or market. Assemble the data in the form illustrated in Exhibit 9. Inventory Item Inventory Quantity Cost per Unit Market Value per Unit (Net Realizable Value) Birch 47 $219 $217 Cypress 27 82 83 Mountain Ash 47 198 220 Spruce 11 162 187 Willow 42 59 50 Inventory at the Lower of Cost or Market Inventory Item Total Cost Total...
Lower-of-Cost-or-Market Inventory On the basis of the following data, determine the value of the inventory at...
Lower-of-Cost-or-Market Inventory On the basis of the following data, determine the value of the inventory at the lower of cost or market. Assemble the data in the form illustrated in Exhibit 10. Product Inventory Quantity Cost Per Unit Market Value per Unit (Net Realizable Value) Class 1: Model A 19$115 $112 Model B 39 142 138 Model C 39294 305 Class 2: Model D 8 260 246 Model E 28 170 176 a. Determine the value of the inventory at the lower...
Lower-of-Cost-or-Market Inventory On the basis of the following data: Inventory Quantity Cost per Unit Market Value...
Lower-of-Cost-or-Market Inventory On the basis of the following data: Inventory Quantity Cost per Unit Market Value per Unit (Net Realizable Value) Product Model A $174 $166 Model B 77 86 Model C 255 248 Model D 222 201 Model E 121 121 Determine 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...
Lower-of-Cost-or-Market Inventory On the basis of the following data, determine the value of the inventory at...
Lower-of-Cost-or-Market Inventory On the basis of the following data, determine the value of the inventory at the lower of cost or market. Assemble the data in the form illustrated in Exhibit 9. Inventory Item Inventory Quantity Cost per Unit Market Value per Unit (Net Realizable Value) Birch $273 $275 Cypress Mountain Ash Spruce Willow 208 Inventory at the Lower of Cost or Market Inventory Item Total Cost Total Market Total Lower of Cor Birch Crores Mountain Spruce Willow EXHIBIT A...
Using the lower of cost or market, what should the total inventory value be for the following items: Unit Cost Unit Market Total Cost Total Market Lower of Cost or Item Quantity Price Price Price Market A 183 $10 $1,098 $1,830 B 103 18 1,854 1,648 Price 902 984
per Unit Jake Stone Company evaluated its inventory using the Lower of Cost or Market method. If the Lower of Cost or Market was applied to the following items, what should the total inventory value be? Inventory Cost per Market value Total Total Item Quantity Unit Cost Market 300 $15.00 $14.50 $4,500 $4,350 200 $14.00 $15.00 $2,800 $3,000 $17.00 $17.50 $1,700 $1,750 100
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. Unit Market Price Unit Cost Price Item Inventory Quantity $36 $34 54 IA17 16 18 108 BJ54 X Feedback Check My Work Under lower-of-cost-or-market, for each item in inventory, choose the lower of total cost price or the total market price as the assigned value for computing inventory cost. First...
Lower-of-Cost-or-Market Inventory On the basis of the following data, determine the value of the inventory at the lower of cost of market. Assemble the data in the form illustrated in Bibit Inventory Item Inventory Quantity Unit Market Value per Unit (Net Realizable Value) $282 212 Birch $297 Cypress 204 Mountain Ash 13 Spruce 39 292 Willow Inventory at the Lower of Cost or Market Total Cost Total Market Total Lower of Cor Inventory Item Birch Cypress Mountain Ash Spruce WO...
Lower-of-Cost-or-Market Inventory On the basis of the following data: Inventory Quantity Cost per Unit Market Value per Unit (Net Realizable Value) Product Model A $174 $166 Model B 77 86 Model C 255 248 Model D 222 201 Model E 121 121 Determine 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...
Lower-of-Cost-or-Market Inventory On the basis of the following data, determine the value of the inventory at the lower of cost or market. Assemble the data in the form illustrated in Exhibit 9. Inventory Item Inventory Quantity Cost per Unit Market Value per Unit (Net Realizable Value) Birch $273 $275 Cypress Mountain Ash Spruce Willow 208 Inventory at the Lower of Cost or Market Inventory Item Total Cost Total Market Total Lower of Cor Birch Crores Mountain Spruce Willow EXHIBIT A...
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