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.
Item | Inventory Quantity | Cost per Unit | Market Value per Unit (Net Realizable Value) |
JFW1 | 134 | $30 | $25 |
SAW9 | 267 | 16 | 18 |
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