Cengage E C + x CengageNOWw2 | Online tea X Y coarse hero - Yahoo Search EX * Ho

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Cengage E C + x CengageNOWw2 | Online tea X Y coarse hero - Yahoo Search EX * Homework Help - Q&A; trom X C Chegg Study | Guided Solutio x + 6 v2.cengagenow.com/ilrn/takeassignment/takeAssignmentMain.do?invoker ... Q Search - DX lly O = CHAPTER 7-INVENTORIES Study Progress Done Activity Take: Practice! Lower-of-Cost-or-Market Method Question 1 1 pt Lower-of-Cost-or-Market Method On the basis of the data shown below: Inventory Cost per Market Value per Unit Item Quantity Unit (Net Realizable Value) CK3) | 128 $46 $44 BJ54 247 2227 Determine the value of the inventory at the lower-of-cost-or-market by applying lower-of-cost-or-market to each inventory item, as shown in Exhibit 9. Submit Answer Try Another version Save and Exit Submit Assignment for Grading Cengage Learning | Cengage Technical Support E O Type here to search on e a a . NO S, 6 10:36 AM a D & 11/15/2017 11

Explanation / Answer

The value of inventory at the lower of cost or market by applying lower of cost or market to each inventory item = 11,066.

Item Inventory quantity (a) Cost per unit (b) Market value per unit (c) Lower of cost or market (d) Inventory value (e) = (a*d) CK3J 128 46 44 44 5,632 BJ54 247 22 27 22 5,434 11,066

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