Lower-of-Cost-or-Net Realizable Value Method

The Crane Company had the following inventory at year-end:

		Unit Price
	Quantity	Cost	Net Realizable Value
Desks
Model 9001	70	$230	$250
Model 9002	45	320	308
Model 9003	20	390	400
Cabinets
Model 7001	120	100	104
Model 7002	80	135	128
Model 7003	50	170	166

Required

Determine the value of the ending inventory after applying the lower-of-cost-or-net realizable value method to each item of inventory.

Applying the lower-of-cost-or-net realizable value method to each item of the inventory results in an ending inventory amount of $Answer

PreviousFinish review