On the basis of the data shown below: Item Inventory Quantity Cost per Unit Market Value per Unit (Net Realizable Value) IA17 137 $54 $49
On the basis of the data shown below:
| Item | Inventory Quantity | Cost per Unit | Market Value per Unit (Net Realizable Value) |
| IA17 | 137 | $54 | $49 |
| O5T4 | 277 | 28 | 30 |
Determine the value of the inventory at the lower-of-cost-or-market by applying lower-of-cost-or-market to each inventory item.
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Authors: Russell C. Hibbeler
11 Edition
9780132215091, 132215004, 132215098, 978-0132215008
