FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Lower-of-cost-or-market method
On the basis of the following data, 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 10.
Commodity | Inventory Quantity |
Cost per Unit |
Market Value per Unit (Net Realizable Value) |
---|---|---|---|
JFW1 | 53 | $39 | $34 |
SAW9 | 108 | 19 | 23 |
fill in the blank 1 of 1$
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