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Tatum Company has four products in its inventory. Information about the December 31, 2021, inventory is as follows:

latum Company has four products in its inventory. Information about the December 31, 2021, inventory is as follows: Product TRequired 1 Required 2 Assuming that inventory write-downs are common for Tatum Company, record any necessary year-end adjusti

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Product Cost Replacement cost NRV NRV - NP Market Per unit Inventory value
101 $1,49,000.00 $1,36,100.00 $1,23,700.00 $64,100.00 $1,36,100.00 $1,36,100.00
102 $1,10,800.00 $1,04,600.00 $1,35,400.00 $91,080.00 $1,04,600.00 $1,04,600.00
103 $73,800.00 $49,200.00 $62,100.00 $32,580.00 $49,200.00 $49,200.00
104 $37,500.00 $35,000.00 $62,800.00 $47,800.00 $47,800.00 $37,500.00
Market =Higher of (Replacement cost, NRV-NP)
Per unit Inventory value =Lower of(Cost, Market)
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