On the basis of the following data, determine the value of the inventory at the
ID: 2523211 • Letter: O
Question
On the basis of the following data, determine the value of the inventory at the lower of cost or market. Apply lower of cost or market to each inventory item. Show your work.
Item
Inventory Quantity
Unit Cost Price
Unit Market Price
Product C
300
$ 6
$ 5
Product D
420
12
14
Total
?
??
Item
??
Inventory
Quantity
?
?Cost per Unit
?Market Value per Unit
?Cost
?Market
?LCM
Product C
Product D
?
Total
Item
Inventory Quantity
Unit Cost Price
Unit Market Price
Product C
300
$ 6
$ 5
Product D
420
12
14
Explanation / Answer
Total Item Inventory Quantity ?Cost per Unit ?Market Value per Unit Cost Market LCM Product C 300 6 5 1800 1500 1500 Product D 420 12 14 5040 5880 5040 Total 6840 7380 6540
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