using lower of cost or market rule, what is the total valuation for each invento

Question

using lower of cost or market rule, what is the total valuation for each inventory item and the total inventory valuation?

item quantity on hand unit cost when acquired (FIFO) replacement cost a 100 $                                                             40.00 $                                                                  35.00 b 150 $                                                             50.00 $                                                                  52.00 c 25 $                                                          100.00 $                                                                  80.00 d 300 $                                                             60.00 $                                                                  62.00 e 700 $                                                             15.00 $                                                                  12.00

Explanation / Answer

Calculation of total valuation of each inventory using lower of cost of market rule

Item quantity on hand unit cost when acquired (FIFO) Replacement cost Valuation of inventory a 100 $40 $35 $3500 b 150 $50 $52 $7500 c 25 $100 $80 $2000 d 300 $60 $62 $18000 e 700 $15 $12 $8400 TOTAL $39400

Related Questions

Navigate

• Browse (All)
• Browse U
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.