Lower-of-Cost-or-Market Method On the basis of the data shown below: Inventory Cost per Market Value per...

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Lower-of-Cost-or-Market Method On the basis of the data shown below: Inventory Cost per Market Value per Unit Quantity Unit ( А в ст Т Е Т с EXHIBIT 9 Determining Inventory at Lower of Cost or Market (LCM) AWN 3 Item 4 Echo 5 Foxtrot 6 Sierra 7 Tango

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Answer 1

Answer #1

Value of inventory

= [97*(lower of 57 or 52)] + [186*(lower of 28 or 31)]

= (97*52) + (186*28)

= 10,252

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Answer 2

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