Question
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 | 54 | $50 | $53 |
| SAW9 | 109 | 26 | 24 |
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Essentials Of Xbrl Financial Reporting In The 21st Century
Authors: Bryan Bergeron
1st Edition
0471220779, 978-0471220770
