Cyber Text D v2cengagenow.com/filrn/takeAssignment/takeAssignment &takeAssignSea

Question

Cyber Text D v2cengagenow.com/filrn/takeAssignment/takeAssignment &takeAssignSearch; Lower-of-Cost-or-Market Inventory On the basis of the following data, determine the value of the in Exhibit 10. ventory at the lower of cost or market. Assemble the data in the form illustrated in Unit Cost Price $140 90 75 Unit Market Price $125 112 74 86 145 Commodity Quantity 80 120 30 75 60 Maple 140 Inventory at the Lower of Cost or Market Commodity Total Cost Total Market Total Lower of C or M Beech Total Check My Work Next All work saved 828 PM

Explanation / Answer

Commodity Total cost Total Market Total Lower of C or M Ash 80 x $140 = $11,200 80 x $125 = $10,000 $10,000 Aspen 120 x 90 = 10,800 120 x 112 = 13,440 10,800 Beech 30 x 75 = 2,250 30 x 74 = 2,220 2,220 Maple 75 x 88 = 6,600 75 x 86 = 6,450 6,450 Oak 60 x 140 = 8,400 60 x 145 = 8,700 8,400 Total $39,250 $40,810 $37,870

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