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Lower - of - Cost - or - Net Realizable Value Method The following data refer to the Flemming Company s ending inventory: Item Code
LowerofCostorNet Realizable Value Method
The following data refer to the Flemming Companys ending inventory:
Item
Code
Quantity
Unit
Cost Net
Realizable
Value
ABX $ $
TYG
JIL
GGH
Calculate the value of the companys ending inventory by using the lowerofcostornet realizable value applied to each item of inventory.
Ending inventory computed by applying the lowerofcostornet realizable value to each item of inventory is $Answer
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