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Lower-of-Cost-or-Market Inventory On the basis of the following data, determine the value of...

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Accounting

Lower-of-Cost-or-Market Inventory
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, as shown in Exhibit 8.
\table[[Product,Inventory Quantity,Cost per Unit,,Total],[Unit (Net Realizable Value),Cost,Market,LCM],[Adams,22,$296,$315,,,],[Coolidge,28,46,43,,,],[McKinley,47,227,242,,,],[Garfield,28,237,236,,,],[Lincoln,44,63,56,,,],[Total,,,,,,]]
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