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 Class 1: Model A Model B Model C Class 2: Model D Model E Product Model A Model B Model C Model D Model E Total 20 9 Inventory Quantity 42 40 20 39 9 42 40 39 a. Determine the value of the inventory at the lower of cost or market applied to each item in the inventory. $ 170 94 238 Cost Per Unit Inventory at the Lower of Cost or Market Market Value per Unit Inventory Cost Quantity per Unit (Net Realizable Value) 192 181 $170 94 238 147 192 181 103 246 209 166 Market Value per Unit (Net Realizable Value) $147 103 246 Cost 209 166 28,981 Market 3,400 $ 2,940 846 927 9,996 10,332 7,680 8,360 7,059 6,474 29,033 Lower of Cost or Market 2,940 846 9,996 7,680 6,474 27,936 Previous Next >

C. Determine the value of the invenoory at ter loeer of cest er market abolet to total inventory. tower-of-Cost-or-Market Irventory. On the bssis of the following data, determine the value of the inventory at the lower of cost or market. Assemble the data in the form iliustrated in Exhibit 10. a. Determine the value of the inventory at the lower of cost or market applied to each item in the inventory c. Determine the value of the inventory at the lower of cost or market applied to total inventory