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Concord Company applied FIFO to its inventory and got the following results for its ending inventory. Cameras 140 units at a cost per unit of
Concord Company applied FIFO to its inventory and got the following results for its ending inventory.
Cameras | 140 | units at a cost per unit of | $62 | |
Blu-ray players | 155 | units at a cost per unit of | $70 | |
iPods | 120 | units at a cost per unit of | $81 |
The net realizable value at year-end was cameras $70, Blu-ray players $68, and iPods $76. Determine the amount of ending inventory at lower-of-cost-or-net realizable value.
Ending inventory | $enter the amount of ending inventory in dollars |
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