Lower-of-Cost-or-Market Inventory On the basis of the following data, determine the value of the inventory at the lower of cost or market. Assemble the data in the form illustrated in Exhibit 10. Product Inventory Quantity Cost Per Unit Market Value per Unit (Net Realizable Value) Class 1: Model A 38 $148 $139 Model B 44 99 111 Model C 31 269 286 Class 2: Model D 36 290 306 Model E 16 136 136 a. Determine the value of the inventory at the lower of cost or market applied to each item in the inventory. Inventory at the Lower of Cost or Market Product Inventory Quantity Cost per Unit Market Value per Unit (Net Realizable Value) Cost Market Lower of Cost or Market Model A $ $ $ $ $ Model B Model C Model D Model E Total $ $ $ b. Determine the value of the inventory at the lower of cost or market applied to each class of inventory. Inventory at the Lower of Cost or Market Product Inventory Quantity Cost per Unit Market Value per Unit (Net Realizable Value) Cost Market Lower of Cost or Market Class 1: Model A $ $ $ $ Model B Model C Subtotal $ $ $ Class 2: Model D $ $ Model E Subtotal $ $ Total $ $ $ c. Determine the value of the inventory at the lower of cost or market applied to total inventory. Inventory at the Lower of Cost or Market Product Inventory Quantity Cost per Unit Market Value per Unit (Net Realizable Value) Cost Market Lower of Cost or Market Model A $ $ $ $ Model B Model C Model D Model E Total $ $ $

Lower-of-Cost-or-Market Inventory On the basis of the following data, determine the value the inventory at the lower of cost or market. Assemble the data in the form illustrated in Exhibit 10. Inventory Quantity Cost Per Unit Market Value per Unit (Net Realizable Value) Product Class 1 : Model A 38 $148 $139 Model B 44 99 111 Model C 31 269 286 Class 2: Model D 36 290 306 Model E 16 136 136 a. Determine the value of the inventory at the lower of cost or market applied to each item in the inventory. Inventory at the Lower of Cost or Market Market Value Cost per Unit (Net Realizable Value) per Unit Cost Market Inventory Quantity Lower of Cost or Market Product Model A