Use the lower-of-cost-or-market rule to determine the value of the following inventory for Instant Key's. QTY COST MKT BASIS AMOUNT ITEM Door Keys 154 $ 554 $ 598 Car Keys 133 $ 164 $ 210 Bike Keys 257 $ 510 $620 Safe Keys 491 $279 $ 240 Total value in Inventory is?

Using the lower of cost or market, what should the total inventory value be for the following items: Item InventoryQuantity Costper Unit Market Valueper Unit Total CostPrice Total MarketPrice Lower of Cost orMarket A 186 $6 $8 $1,116 $1,488 $fill in the blank 1 B 95 $18 $14 $1,710 $1,330 $fill in the blank 2 C 44 $22 $25 $968 $1,100 $fill in the blank 3             $fill in the blank 4

A v2.cengagenow.com 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. Market Value per Unit Item Inventory Quantity Cost per Unit (Net Realizable Value) JFW1 58 $29 $24 SAW9 119 15 20 Check My Work Previous Next All work saved. Save and Exit Submit Assignment for Grac %24

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