Question
A company reported the following data related to its ending inventory: Product Units Available Cost Market Total Cost Total Market LCM 1 100 $10 $11
- A company reported the following data related to its ending inventory:
| Product | Units Available | Cost | Market | Total Cost | Total Market | LCM |
| 1 | 100 | $10 | $11 |
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| 2 | 75 | 16 | 14 |
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| 3 | 60 | 14 | 13 |
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| 4 | 40 | 16 | 20 |
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Calculate the lower-of-cost-or-market on the inventory applied separately to each product. Record the necessary adjustment to merchandise Inventory:
| Date | Description | PR | DR | CR |
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Maintenance Management Auditing In Search Of Miantenance Management Excellence
Authors: Anthony Kelly
1st Edition
0831132671, 978-0831132675
