Question
Oriole Company sells three different products. The following information is available on December 31: Inventory item Units. Cost per unit. Market value per unit X
Oriole Company sells three different products. The following information is available on December 31:
| Inventory item | Units. | Cost per unit. | Market value per unit | |||
| X | 350 | $5 | $4.00 | |||
| Y | 700 | $2.0 | $1.50 | |||
| Z | 1740 | $3.0 | $4.50 |
When applying the lower of cost or market rule to each item, what will Oriole total ending inventory balance be?
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Reflection On The Adaptation Of International Auditing Standards To SMEs
Authors: Mohamed Hedi Mzah
1st Edition
6204256882, 978-6204256887
