Question
A. What, if any, is the amount of the lower cost or market adjustment? B. What is the journal entry to record the adjustment? BCN,
A. What, if any, is the amount of the lower cost or market adjustment?
B. What is the journal entry to record the adjustment?
BCN, Co accumulates the following cost and market data at 12/31/XX.
| Product | Cost | Market |
| 12GB memory cards | $53,000 | $45,000 |
| Camera mounts | $28,000 | $27,000 |
| Waterproof camera covers | $14,000 | $21,000 |
| Camera light assembly | $6,000 | $8,000 |
| total | $101,000 |
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Accounting Tools for business decision making
Authors: kimmel, weygandt, kieso
4th Edition
978-0470117262, 9780470534786, 470117265, 470534788, 978-0470095461
