Answer and Explanation:
The computation of the lower of cost or market for ending inventory applied separately to each product is presented below:
Product Units (A) Cost per Unit Market per Unit Minimum cost (B) Value (A × B)
Helmets 24 $50 $54 $50 $1,200
Bats 17 $78 $72 $72 $1,224
Shoes 38 $95 $91 $91 $3,458
Uniforms 42 $36 $36 $36 $1,512
Total cost $7,394
First we take the lower unit of cost or market and after than the lower unit should be multiplied with the number of units so that the ending inventory could come
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Answer:
150
Explanation:
The computation of the total GRP is shown below:
Data provided in the question
Number of allotments = 3
Daily effective circulation = 25,000
Total market population = 50,000
So, the total GRPS is
= (Number of allotments × Daily effective circulation) ÷ (Total market population) × 100
= (3 × 25,000) ÷ (50,000) × 100
= 150
