On the basis of the following data, determine the valueof the inventory at the l
ID: 2434110 • Letter: O
Question
On the basis of the following data, determine the valueof the inventory at the lower of cost or market. Assemblethe data in the form illustratedbelow
Commodity
Inventory Quantity
Unit CostPrice
Unit Market Price
62CF3
10
$120
$131
41DH2
35
80
75
O3MQ3
10
275
260
23FH6
16
40
28
10KT4
40
90
94
On the basis of the following data, determine the valueof the inventory at the lower of cost or market. Assemblethe data in the form illustratedbelow
Commodity
Inventory Quantity
Unit CostPrice
Unit Market Price
62CF3
10
$120
$131
41DH2
35
80
75
O3MQ3
10
275
260
23FH6
16
40
28
10KT4
40
90
94
Explanation / Answer
Commodity Quantity Unit costprice Unit MarketPrice Value record 62CF3 10 120 131 1,200 41DH2 35 80 75 2,625 O3MQ3 10 275 260 2,600 23FH6 16 40 28 448 10KT4 40 90 94 3,600 10,473
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