Exercise 5-10 Lower of cost or market LO P2

Martinez Company's ending inventory includes the following items.

Product	Units	Cost per Unit				Market per Unit
Helmets	24		$	50			$	54
Bats	17			78				72
Shoes	38			95				91
Uniforms	42			36				36

Compute the lower of cost or market for ending inventory applied separately to each product.

		Per Unit		Total
Inventory Items	Units	Cost	Market	Cost	Market	LCM Applied to Items
Helmets	24	$50	$54
Bats	17	78	72
Shoes	38	95	91
Uniforms	42	36	36
				$0