Question
Lower-of-Cost-or-Market Method On the basis of the data shown below: Item Inventory Quantity Cost per Unit Market Value per Unit (Net Realizable Value) MX62 64
Lower-of-Cost-or-Market Method
On the basis of the data shown below:
| Item | Inventory Quantity | Cost per Unit | Market Value per Unit (Net Realizable Value) |
| MX62 | 64 | $26 | $28 |
| O5T4 | 127 | 14 | 9 |
Determine the value of the inventory at the lower of cost or market by applying lower of cost or market to each inventory item, as shown in Exhibit 9.
$
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Inventory Best Practices
Authors: Steven M. Bragg
2nd Edition
1118000749, 9781118000748
