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Exercise 6-10 Lower of cost or market LO P2 Martinez Company's ending inventory includes the following items. Product Units Cost per Unit Market per Unit
Exercise 6-10 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 $ 52 $ 56 Bats 17 80 74 Shoes 38 97 93 Uniforms 42 38 38 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 24 $ 52 $ 56 Helmets Bats Shoes 17 80 74 38 97 93 Uniforms 42 38 38 $ 0 $ 0
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