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Murrr4er [49]
3 years ago
13

A company’s normal selling price for its product is $28 per unit. However, due to market competition, the selling price has fall

en to $23 per unit. This company's current FIFO inventory consists of 280 units purchased at $24 per unit. Net realizable value has fallen to $21 per unit. Calculate the value of this company's inventory at the lower of cost or market.
Business
1 answer:
Marrrta [24]3 years ago
3 0

Answer:

$5,880

Explanation:

The computation of the value of inventory at the lower of cost or market value is shown below

= Number of units purchased × lower per unit

= 280 units  $21

= $5,880

Since the lower value per unit is $21 among all given per unit value and the same is to be considered

All other information which is given is irrelevant. Hence, ignored it

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