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Lower-of-cost-or-market inventory Data on the physical inventory of Ashwood Products Company as of December 31 follow: Quantity and cost data from the last purchases inwoice
Lower-of-cost-or-market inventory Data on the physical inventory of Ashwood Products Company as of December 31 follow: Quantity and cost data from the last purchases inwoice of the year and the next-to-the-last purchases invoice are summarized as follows: Kequirea: 1. Insert the quantity and unit cost of the last purchase. 2. On the following line, insert the quantity and unit cost of the next-to-the-last purchase. 3. Total the cost and market columns and insert the lower of the two totals in the LCM column. The first item on the inventory sheet has been completed as an example. 1. Insert the quantity and unit cost of the last purchase. 2. On the following line, insert the quantity and unit cost of the next-to-the-last purchase. 3. Total the cost and market columns and insert the lower of the two totals in the LCM column. The first item on the inventory sheet has been completed as an example. Lower-of-cost-or-market inventory Data on the physical inventory of Ashwood Products Company as of December 31 follow: Quantity and cost data from the last purchases inwoice of the year and the next-to-the-last purchases invoice are summarized as follows: Kequirea: 1. Insert the quantity and unit cost of the last purchase. 2. On the following line, insert the quantity and unit cost of the next-to-the-last purchase. 3. Total the cost and market columns and insert the lower of the two totals in the LCM column. The first item on the inventory sheet has been completed as an example. 1. Insert the quantity and unit cost of the last purchase. 2. On the following line, insert the quantity and unit cost of the next-to-the-last purchase. 3. Total the cost and market columns and insert the lower of the two totals in the LCM column. The first item on the inventory sheet has been completed as an example
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