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Green Leaf Company had the following information available on December 31: Item Units Cost Total cost Market value Total market value Wheelbarrows 100 $ 32.10
Green Leaf Company had the following information available on December 31:
Item | Units | Cost | Total cost | Market value | Total market value | ||||||||||
Wheelbarrows | 100 | $ | 32.10 | $ | 3,210 | $ | 33.00 | $ | 3,300 | ||||||
Shovels | 320 | 14.00 | 4,480 | 12.00 | 3,840 | ||||||||||
Gloves | 80 | 8.60 | 688 | 9.40 | 752 | ||||||||||
Hoses | 140 | 11.00 | 1,540 | 10.50 | 1,470 | ||||||||||
$ | 9,918 | $ | 9,362 | ||||||||||||
Management applies the LCM rule on the basis of the total inventory. What is the write-down required?
Select one:
a. $864.
b. $556.
c. $576.
d. $710.
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