Question 51 If a company values inventory at the lower of cost or market, which of the following is the value of inventory on the balance sheet? Apply the lower-of-cost-or-market method on an item by item basis. Item Product C Product D $6,960 O $7,700 O $6,540 $7,280 Inventory Quantity 420 370 Unit Cost Price $6 12 Unit Market Price $ 5 3 p 14

If a company values invediory at the lower of cost or market, whach of the followine is the talue of inveatony on the balance sheet? Apply the lowet-of-cont-or-market method cn an item by item basis. 3960 56,500 57280