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Martinez Company's ending inventory includes the following items. Product Units Cost per Unit Market per Unit Helmets 24 $ 52 $ 56 Bats 17 80
Martinez Company's ending inventory includes the following items.
| Product | Units | Cost per Unit | Market per Unit | ||||||
| Helmets | 24 | $ | 52 | $ | 56 | ||||
| Bats | 17 | 80 | 74 | ||||||
| Shoes | 38 | 97 | 93 | ||||||
| Uniforms | 42 | 38 | 38 | ||||||
Compute the lower of cost or market for ending inventory applied separately to each product.
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Financial Accounting
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
9th Edition
1118334329, 978-1118334324
