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.         Total Product Inventory Quantity Cost per Unit Market Value perUnit (Net Realizable Value) Cost Market LCM Adams 22   $51   $58   $ $ $ Coolidge 23   224   237         McKinley 27   167   152         Garfield 32   58   49         Lincoln 35   263   270         Total             $ $ $

FINANCIAL ACCOUNTING
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Chapter1: Financial Statements And Business Decisions
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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.

        Total
Product Inventory Quantity Cost per Unit Market Value per
Unit (Net Realizable Value)
Cost Market LCM
Adams 22   $51   $58   $ $ $
Coolidge 23   224   237        
McKinley 27   167   152        
Garfield 32   58   49        
Lincoln 35   263   270        
Total             $ $ $
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