Question

ercise 6-10 wer of cost or market Martinez Companys ending inventory includes the following items. Compute the lower of cost
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Answer #1

Answer :-

Product Units Cost per Unit Market per Unit

Total Cost

(Units × Cost per unit )

Total Market

(Units × Market per unit )

LCM Applied to product

(lower of Total cost or total market )

Helmets 24 $50 $54 $1,200 $1,296 $1,200
Bats 17 $78 $72 $1,326 $1,224 $1,224
Shoes 38 $95 $91 $3,610 $3,458 $3,458
Uniforms 42 $36 $36 $1,512 $1,512 $1,512
$7,648 $7,490 $7,394
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