CR Ch 7-3 Exercises & Problems eBook Show Me How Calculator Print Item Lower-of-

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CR Ch 7-3 Exercises & Problems eBook Show Me How Calculator Print Item Lower-of-Cost-or-Market Inventory EX.07-15.ALGO EX.07-03.ALGO EX.07-04.ALGO EX.07-08 On the basis of the following data, determine the value of the inventory at the lower of cost or market. Assemble the data in the form illustrated in Exhibit 9 Cost per Unit $292 286 178 58 239 Market Value per Unit (Net Realizable Value) $292 284 197 38 244 Inventory Inventory Item Quantity Birch Cypress Mountaln Ash Spruce Willow 31 36 46 20 EX.07-13.ALGO EX.07-18.ALGO Inventory at the Lower of Cost or Market Commodity Birch Cypress Mountain Ash Spruce Willow Total Total Cost Total Market Total Lower of C or M Check My Work 2 more Check My Work uses remaining. Next Progress: 1/6 Items gnment Score: 0.0% Save and Exit Submit Assignment for Gr 10:14 PM Type here to search 0

Explanation / Answer

Commodity Total cost Total market Total lower of C or M Birch 2336 2336 2336 Cypress 8866 8804 8804 Mountain ash 6408 7092 6408 Spruce 2668 1748 1748 Willow 4780 4880 4780 Total 25058 24860 24076

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