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Using the lower of cost or market, what should the total inventory value be for the following items: Item Inventory Quantity Cost per Unit Market
Using the lower of cost or market, what should the total inventory value be for the following items:
Item | Inventory Quantity | Cost per Unit | Market Value per Unit | Total Cost Price | Total Market Price | Lower of Cost or Market |
A | 218 | $4 | $7 | $872 | $1,526 | $ |
B | 104 | $19 | $16 | $1,976 | $1,664 | $ |
C | 60 | $23 | $25 | $1,380 | $1,500 | $ |
$ |
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