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11. Consider the following information pertaining to Old West's inventory: Product Qty Revolvers 12. 16 Cost $120 Spurs 23 621 27 Hats 12 672

11. Consider the following information pertaining to Old West's inventory: Product Qty Revolvers 12. 16 Cost $120 Spurs 23 621 27 Hats 12 672 56 Market Value $150 224 22 40 mayiz 14 Old West implements the lower of cost or market on a item basis. What amount should Old West report as its inventory? A. $3,213 B. $3,386 C. $2,996 D. $2,906

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