Question

Exercise 5-10 Lower of cost or market LO P2 Martinez Company's ending inventory includes the following items Units Cost per Unit Market per Unit Product Helmets Bats Shoes Uniforms 39 32 53 57 $ 61 79 98 43 $ 57 85 102 43 Compute the lower of cost or market for ending inventory applied separately to each product. Per Unit Total LCM Applied to Items Cost Market Inventory Items Units CostMarket Helmets Bats Shoes Uniforms 39 61 57 32 53 57 79 98 43 85 102 43

Answer 1

Answer:

		Per unit		Total
Product	Units	Cost	Market	Cost	Market	LCM applied to products
Helmets	39	61	57	2,379	2,223	2,223
Bats	32	79	85	2,528	2,720	2,528
Shoes	53	98	102	5,194	5,406	5,194
Uniforms	57	43	43	2,451	2,451	2,451
				12,552	12,800	12,396