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.
Product |
Inventory |
Unit |
Unit |
Model A | 300 | $140 | $125 |
Model B | 500 | 90 | 112 |
Model C | 150 | 60 | 59 |
Model D | 800 | 120 | 115 |
Model E | 400 | 140 | 145 |
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 | $ | $ | $ |
Inventory at the Lower of Cost or Market | |||
Product | Total Cost | Total Market | Lower of Total Cost or Total Market |
A | $42,000 | $37,500 | $37,500 |
B | $45,000 | $56,000 | $45,000 |
C | $9,000 | $8,850 | $8,850 |
D | $96,000 | $92,000 | $92,000 |
E | $56,000 | $58,000 | $56,000 |
Total | $248,000 | $252,350 | $239,350 |
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. Unit Market Value per Unit (Net Realizable Value) $125 112 59 115 145 Inventory Quantity Unit Product Cost Price 300 500 150 800 400 $140 90 60 120 140 Model A Model B Model C Model D Model E Inventory at the Lower of Cost or Market PrtSc...
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