Lower of Cost or Market Calculation
Based on the following data determine the value of inventory using the lower of
cost or market. Indicate what the lower of cost or market is and what the final
lower of cost or market is. Indicate your answers in the yellow highled area.
				Total
		Unit	Unit			Lower
	Inventory	Cost	Market			of Cost
Item	Quantity	Price	Price	Cost	Market	or Mkt.
ABC	10	$39	$40
DFG	7	110	$98
Total	17			$0	$0	$0

PLEASE HELP ME SOLVE THIS