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Use the lower-of-cost-or-market rule to determine the value of the following inventory for Bargain Bonanza, Inc. Item QTY COST MKT BASIS AMOUNT Mountain bikes 151

Use the lower-of-cost-or-market rule to determine the value of the following inventory for Bargain Bonanza, Inc. Item QTY COST MKT BASIS AMOUNT Mountain bikes 151 $598 $554 Fax machines 136 163 212 Dishwashers 459 508 772 TVs 495 196 252 VCRs 129 259 235 $456,764 $466,329 $600,511 $631,629

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