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Data related to the inventories of Copper Medical Supply is presented below: Surgical Equipment Surgical Supplies Rehab Equipment Rehab Supplies Selling Price 260 120 340
Data related to the inventories of Copper Medical Supply is presented below: | |||||||
Surgical Equipment | Surgical Supplies | Rehab Equipment | Rehab Supplies | ||||
Selling Price | 260 | 120 | 340 | 165 | |||
Cost | 170 | 90 | 250 | 162 | |||
Replacement | 240 | 80 | 235 | 158 | |||
Disposal Cost | 30 | 5 | 25 | 10 | |||
Normal gross profit ratio | 30% | 30% | 30% | 20% | |||
In applying the LCM rule, the inventory of rehab supplies for Cooper Medical Supply would be valued at:
My teach says the answer is $155 and I do not understand how |
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