Question
On the basis of the following data, determine the value of the inventory at the lower of cost or market. Product Inventory Quantity Cost per
On the basis of the following data, determine the value of the inventory at the lower of cost or market.
| Product | Inventory Quantity | Cost per Unit | Market Value per Unit (Net Realizable Value) | Total Cost | Total Market | Total LCM |
|---|---|---|---|---|---|---|
| Adams | 130 | $130 | $140 | $fill in the blank 2 | $fill in the blank 3 | $fill in the blank 4 |
| Coolidge | 330 | 65 | 91 | fill in the blank 5 | fill in the blank 6 | fill in the blank 7 |
| McKinley | 220 | 55 | 48 | fill in the blank 8 | fill in the blank 9 | fill in the blank 10 |
| Garfield | 870 | 160 | 180 | fill in the blank 11 | fill in the blank 12 | fill in the blank 13 |
| Lincoln | 612 | 295 | 305 | fill in the blank 14 | fill in the blank 15 | fill in the blank 16 |
| Total | $fill in the blank 17 | $fill in the blank 18 | $fill in the blank 19 |
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Cost Management Measuring Monitoring And Motivating Performance
Authors: Leslie G. Eldenburg, Susan Wolcott, Liang Hsuan Chen, Gail Cook
2nd Canadian Edition
1118168879, 9781118168875
