The controller of Scheller Company is applying the lower-of-cost-or-market basis of valuing its ending inventory. The following information is available:

Instructions
Compute the value of the ending inventory by applying the lower-of-cost-or-marketbasis.

Transcribed Image Text:

Cost Market LawnmowerS Self-propelled Push type Total $15,000 $17,000 19,000 18,000 34000 35,000 nowblowers. Manual Self-start Total Total inventory 30,000 31,000 19,000 21,000 49,000 52.000 $83.000 $87.000