Martinez Company's ending inventory includes the following items. Product Units Cost per Unit Market per Unit Helmets 31 $59 $63 24 113 81 45 104 100 49 45 45 Bats Shoes Uniforms Compute the lower of cost or market for ending inventory applied separately to each product. Inventory Items Units Helmets Bats Shoes Uniforms 31 24 45 49 Per Unit Cost Market $ 59 $ 63 113 81 104 100 45 45 Cost Total Market LCM Applied to Items

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Martinez Company's ending inventory includes the following items.
Product Units Cost per Unit Market per Unit
Helmets
31
$59
$ 63
24
113
81
104
100
45
45
Bats
Shoes
45
Uniforms 49
Compute the lower of cost or market for ending inventory applied separately to each product.
Inventory Items Units
Helmets
Bats
Shoes
Uniforms
31
24
45
49
Per Unit
Cost
Market
$ 59 $ 63
113
81
104
100
45
45
Cost
Total
Market
LCM Applied
to Items
Transcribed Image Text:Martinez Company's ending inventory includes the following items. Product Units Cost per Unit Market per Unit Helmets 31 $59 $ 63 24 113 81 104 100 45 45 Bats Shoes 45 Uniforms 49 Compute the lower of cost or market for ending inventory applied separately to each product. Inventory Items Units Helmets Bats Shoes Uniforms 31 24 45 49 Per Unit Cost Market $ 59 $ 63 113 81 104 100 45 45 Cost Total Market LCM Applied to Items
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