In try to do the inventory value but dont know how to do it. I tried 4213 but th

Question

In try to do the inventory value but dont know how to do it. I tried 4213 but that is not the answer not even the 4235.50. needs help please explain how to do it.

Lower of Cost or Market

The following information is taken from Aden Company's records:

Required:

What is the correct inventory value if the company applies the lower of cost or market to each of the following? When required, round your answers to the nearest cent.

Individual items

Groups of items

The inventory as a whole

$ ??

Product A $ 480 Product B 375 Product C 750 Product D 640 Product E 1,968 Total inventory value $ 4,213

Explanation / Answer

4213 Asnwer is true. Please send the original question so i can get the idea of exactly what asked in it . Generally inventory is valued at cost or market value whichever is lower . This rule is applicable only when inventory is valued at the end of year whicle calulating profit. If inventory is valued during the year then only cost is considered and not market value is considered.

600 0.8 480 250 1.5 375 150 5 750 100 6.4 640 80 24.6 1968 4213

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