X 6 CengageNOW2 Online teachir x exhibit9.jpg (7562191) + enow.com/ilm/take Assignment/take AssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress-false eBook Calculator Inventory on the Balance Sheet On the basis of the following data, determine the value of the inventory at the lower of cost or market. Refer to Exhibit 9 for guidance Inventory Unit Market Value per Unit Product Quantity Cost per Unit (Net Realizable Value) Adams 100 $140 $125 Coolidge 375 90 112 McKinley 220 60 59 Garfield 900 120 115 Lincoln 626 140 145 Assuming that the cost was determined by the ho method, show how Inventory would appear on the balance sheet Inventory, at lower of cost (FIFO) or market Remember that the LCM cost determined in Exercise 6-18 appears in the current Assets section of the balance sheet. Check My Work 3:51 PM 10/17/2 NOW2 Online teachex * exhibit Gjpg 146* 191) warten_9781305961883/ch06/exhibit_9.jpg x + Exhibit 9 Determining Inventory at Lower of Cost or Market 1 2 3 Item 4 A 5 B 60 70 8 Total B Cost Inventory per Quantity Unit 400 $10.25 22.50 600 8.00 280 14.00 LCM D E F Market Value Total per Unit (Net Realizable Value) Cost Market $9.50 $ 4,100 $ 3.800 $ 3.800 24.10 2,700 2.892 2,700 7.75 4.800 4.650 4,650 14.75 3.920 4,130 3,920 512320515.472 $115.070 120 X 6 CengageNOW2 Online teachir x exhibit9.jpg (7562191) + enow.com/ilm/take Assignment/take AssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress-false eBook Calculator Inventory on the Balance Sheet On the basis of the following data, determine the value of the inventory at the lower of cost or market. Refer to Exhibit 9 for guidance Inventory Unit Market Value per Unit Product Quantity Cost per Unit (Net Realizable Value) Adams 100 $140 $125 Coolidge 375 90 112 McKinley 220 60 59 Garfield 900 120 115 Lincoln 626 140 145 Assuming that the cost was determined by the ho method, show how Inventory would appear on the balance sheet Inventory, at lower of cost (FIFO) or market Remember that the LCM cost determined in Exercise 6-18 appears in the current Assets section of the balance sheet. Check My Work 3:51 PM 10/17/2 NOW2 Online teachex * exhibit Gjpg 146* 191) warten_9781305961883/ch06/exhibit_9.jpg x + Exhibit 9 Determining Inventory at Lower of Cost or Market 1 2 3 Item 4 A 5 B 60 70 8 Total B Cost Inventory per Quantity Unit 400 $10.25 22.50 600 8.00 280 14.00 LCM D E F Market Value Total per Unit (Net Realizable Value) Cost Market $9.50 $ 4,100 $ 3.800 $ 3.800 24.10 2,700 2.892 2,700 7.75 4.800 4.650 4,650 14.75 3.920 4,130 3,920 512320515.472 $115.070 120