Question

In: Accounting

Item Inventory Quantity Cost per Unit Market Value per Unit (Net Realizable Value) A13Y 80 $26...

Item Inventory
Quantity		 Cost per
Unit		 Market Value per Unit
(Net Realizable Value)
A13Y 80 $26 $31
O5T4 162 14 11

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.

$

Solutions

Expert Solution

Answer-----------$3,862

Working

Inventory Value
A13Y $        2,080.00
O5T4 $        1,782.00
Total $        3,862.00

.

Item Quantity Cost per unit Total Cost Market value per unit Total Net realizable value Lower of cost or Market
A13Y 80 $                  26.00 $       2,080.00 $            31.00 $        2,480.00 $       2,080.00
O5T4 162 $                  14.00 $       2,268.00 $            11.00 $        1,782.00 $       1,782.00

ekkarill92 answered 3 years ago
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