Exercise 5-10 Lower of cost or market LO P2 Martinez Company's ending inventory includes the following items. Units Cost per Unit $ 56 Product Market per Unit $ 60 78 Helmets 28 Bats 21 84 Shoes 42 101 97 Uniforms 46 42 42 Compute the lower of cost or market for ending inventory applied separately to each product. Per Unit Total LCM Applied Inventory Items Units Cost Market Cost Market to Items Helmets 28 2$ 56 $ 60 Bats 21 84 78 Shoes 42 101 97 Uniforms 46 42 42 2$ 2$
Exercise 5-10 Lower of cost or market LO P2 Martinez Company's ending inventory includes the following items. Units Cost per Unit $ 56 Product Market per Unit $ 60 78 Helmets 28 Bats 21 84 Shoes 42 101 97 Uniforms 46 42 42 Compute the lower of cost or market for ending inventory applied separately to each product. Per Unit Total LCM Applied Inventory Items Units Cost Market Cost Market to Items Helmets 28 2$ 56 $ 60 Bats 21 84 78 Shoes 42 101 97 Uniforms 46 42 42 2$ 2$
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter6: Cost Of Goods Sold And Inventory
Section: Chapter Questions
Problem 32CE: ( Appendix 6B) Inventory Costing Methods: Periodic Average Cost Refer to the information for...
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