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Lower-of-cost-or-market method On the basis of the following data, determine the value of the inventory at the lower-of-cost-or-market by applying lower-of-cost-or-market to each inventory item,
Lower-of-cost-or-market method
On the basis of the following data, 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 10.
Commodity | Inventory Quantity | Cost per Unit | Market Value per Unit (Net Realizable Value) |
---|---|---|---|
JFW1 | 68 | $36 | $39 |
SAW9 | 141 | 18 | 13 |
fill in the blank 1$_________
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