Question
Lower-of-Cost-or-Market Inventory On the basis of the following data: Product Inventory Quantity Cost per Unit Market Value per Unit (Net Realizable Value) Model A 48
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Lower-of-Cost-or-Market Inventory
On the basis of the following data:
Product Inventory Quantity
Cost per Unit
Market Value per Unit (Net Realizable Value)
Model A 48 $145 $158 Model B 25 77 101 Model C 14 272 290 Model D 33 218 198 Model E 9 174 158
Determine the value of the inventory at the lower of cost or market. Assemble the data in the form illustrated in Exhibit 9.
Inventory at the Lower of Cost or Market Product Total Cost Total Market Lower of Total Cost or Total Market A $ $ $ B C D E Total $ $ $
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Lower-of-Cost-or-Market Inventory
On the basis of the following data:
| Product | Inventory Quantity | Cost per Unit | Market Value per Unit (Net Realizable Value) |
| Model A | 48 | $145 | $158 |
| Model B | 25 | 77 | 101 |
| Model C | 14 | 272 | 290 |
| Model D | 33 | 218 | 198 |
| Model E | 9 | 174 | 158 |
Determine the value of the inventory at the lower of cost or market. Assemble the data in the form illustrated in Exhibit 9.
| Inventory at the Lower of Cost or Market | |||
| Product | Total Cost | Total Market | Lower of Total Cost or Total Market |
| A | $ | $ | $ |
| B | |||
| C | |||
| D | |||
| E | |||
| Total | $ | $ | $ |
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