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Alexxx [7]
3 years ago
15

On the basis of the following data, determine the value of the inventory at the lower of cost or market.

Business
1 answer:
vlabodo [156]3 years ago
3 0

Answer:

The computation is shown below:

Explanation:

The computation is shown below:

Product         Total Cost         Total Market      Lower of Total Cost or Total Market

A                    $1,368                  $1,248                         $1,248

                ($171 × 8 units)          ($156 × 8 units)

B                  $10,300                    $9,150                     $9,150

                 ($206 × 50 units)          ($183 × 50 units)

C                $11,454                      $10,856                   $10,856

                  ($249 ×  46 units)          ($236 × 46 units)

D                 $5,530                      $4,795                     4,795

                 ($158 × 35 units)          ($137 × 35 units)

E                $9,452                        $10,064                   $9,452

                  ($278 × 34 units)          ($296 × 34 units)

Total                                                                              $35,501

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