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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. Total Product Inventory
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.
| Total | |||||||||
| Product | Inventory Quantity | Cost per Unit | Market Value per Unit (Net Realizable Value) | Cost | Market | LCM | |||
| Adams | 39 | $135 | $120 | $ | $ | $ | |||
| Coolidge | 46 | 66 | 51 | ||||||
| McKinley | 22 | 185 | 160 | ||||||
| Garfield | 29 | 107 | 108 | ||||||
| Lincoln | 9 | 132 | 141 | ||||||
| Total | $ | $ | $ | ||||||
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