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

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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. Assemble the data in the form illustrated in Exhibit 9.

Product

Inventory Quantity

Unit Cost Price

Unit Market Value per Unit (Net Realizable Value)
Model A 300 $140 $125
Model B 500 90 112
Model C 150 60 59
Model D 800 120 115
Model E 400 140 145

Inventory at the Lower of Cost or Market
Product Total Cost Total Market Lower of Total Cost or Total Market
A $ $ $
B
C
D
E
Total $ $ $

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