Q5

Using the lower of cost or market, what should the total inventory value be for the following items: Cost Market Value Total Market Inventory Quantity Item Total Cost Price per Unit Lower of Cost or Market per Unit Price 187 $9 $11 $1,683 $2,057 B 114 $15 $11 $1,710 $1,254 63 $20 $23 $1,260 $1,449