PE 7-6B Lower-of-cost-or-market method OBJ. 6 On the basis of the following data, determine the value of the inventory at the lower of cost or market. Apply lower of cost or market to each inventory item, as shown in Exhibit 9. Item JFW1 SAW9 Inventory Quantity 6,330 1,140 Cost per Unit $10 36 Market Value per Unit (Net Realizable Value) $11 34 Page 377 PE7-6B Determine the value of inventory at the lower of cost or market Apply lower of cost or market to each inventory item as shown in Exhibit 9 o Total Market Value per Unit (Net Inventory Quantity Cost per Unit Realizable Value) Commodity Cost Market LCM $11 JFW1 SAWS 6,330 1,140 $10 36 34 $ 41,040 63.300 $104,340 $ 69,630 38,760 $108,390 $ 63,300 38.760 $102,060 Total Total Market Value per Unit (Net Realizable Value) Cost per Unit Inventory Quantity Cost Market LCM Commodity $11 6,330 1,140 JFW1 SAWS $10 34 $ 63,300 38,760 $ 63,300 38.760 $ 69,630 41.040 36 $104,340 $108,390 $102,060 Total Total Market Value per Unit (Net Realizable Value) Cost per Unit Inventory Quantity Cost Market Commodity LCM JFW1 SAWS Total 6,330 1.140 $11 36 $10 34 $ 69,630 41.040 $104,340 $ 63,300 38,760 $108.390 $ 63,300 38.760 $102,060 O Total Market Value per Unit (Net Realizable Value) Inventory Quantity Cost per Unit Commodity Cost Market LCM JFW1 SAW9 Total 6,330 1,140 $10 36 $11 34 $ 63,300 41,040 $104,340 $ 69,630 38,760 $108,390 $ 63,300 38,760 $102,060