Applying the lower of cost or market to each item of inventory, what should the total inventory value be for the following items? Item InventoryQuantity Cost perUnit Market Valueper Unit TotalCost TotalMarket A 300 $15.00 $14.50 $4,500 $4,350 B 200 14.00 15.00 2,800 3,000 C 100 17.00 17.50 1,700 1,750 a. $8,850 b. $9,100 c. $9,250 d. $9,000
Applying the lower of cost or market to each item of inventory, what should the total inventory value be for the following items? Item InventoryQuantity Cost perUnit Market Valueper Unit TotalCost TotalMarket A 300 $15.00 $14.50 $4,500 $4,350 B 200 14.00 15.00 2,800 3,000 C 100 17.00 17.50 1,700 1,750 a. $8,850 b. $9,100 c. $9,250 d. $9,000
Chapter10: Inventory
Section: Chapter Questions
Problem 11PA: Calculate a) cost of goods sold, b) ending inventory, and c) gross margin for A76 Company,...
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Question
Applying the lower of cost or market to each item of inventory, what should the total inventory value be for the following items?
Item | Inventory Quantity |
Cost per Unit |
Market Value per Unit |
Total Cost |
Total Market |
---|---|---|---|---|---|
A | 300 | $15.00 | $14.50 | $4,500 | $4,350 |
B | 200 | 14.00 | 15.00 | 2,800 | 3,000 |
C | 100 | 17.00 | 17.50 | 1,700 | 1,750 |
a. $8,850
b. $9,100
c. $9,250
d. $9,000
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