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Crane Company had the following inventory at December 31, 2017 Unit Price Quantity Cost Market Desks Model 9001 Model 9002 Model 9003 72 $190 $210

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Crane Company had the following inventory at December 31, 2017 Unit Price Quantity Cost Market Desks Model 9001 Model 9002 Model 9003 72 $190 $210 47 280 268 22 350 360 Cabinets Model 7001 Model 7002 Model 7003 122 60 82 9 52 130 64 126 a. Determine the ending inventory amount by applying the lower of cost or market rule to 1. Each item of inventory 2. Each major category of inventory 3. Total inventory

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