2. Valuing inventory at lower of cost or market

Valuing Inventory at Lower of Cost or Market. Management of Tarry Compary reports the following inventory uhing uFo and applies the lower of cost or market rule. - tdgers: 1,200 unis in inventory cost is $22 each replacentent cost is $16 each; estimated sale price is $30 eacty estimuted distrabulion cost is $3 each and normal profit is iow of sale pric Required a. Determine the inventory cost ta report on the balance shet ausurnen thas the compary apples the lower of cost or muknt rule to eschilewantacy tem