The Jewel Fool had the following inventory items on hand at the end of the year. Value per Item $ 75 65 Necklaces Bracelets Quantity 20 70 Necklaces Bracelets Total Determine the lower of cost or marketet realizable value per unit and the total amount that should be reported on the balance sheet for each item of inventory. Cost per Item $ 80 45 Lower of Cost or Market per Unit Total Amount Reported

The Jewel Fool had the following inventory items on hand at the end of the year. Determine the lower of cost or marketnet realizable value per unit and the total amount that should be reported on the balance sheet for each item of inventory