Lower-of-Cost-or-Market Inventory On the basis of the following data: Product Inventory...
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Accounting
Lower-of-Cost-or-Market Inventory
On the basis of the following data:
| Product | Inventory Quantity | Cost per Unit | Market Value per Unit (Net Realizable Value) |
| Model A | 45 | $287 | $266 |
| Model B | 21 | 240 | 217 |
| Model C | 19 | 286 | 263 |
| Model D | 36 | 257 | 255 |
| Model E | 10 | 50 | 36 |
Determine the value of the inventory at the lower of cost or market. Assemble the data in the form illustrated in Exhibit 9.
| Inventory at the Lower of Cost or Market | |||
| Product | Total Cost | Total Market | Lower of Total Cost or Total Market |
| A | $ | $ | $ |
| B | |||
| C | |||
| D | |||
| E | |||
| Total | $ | $ | $ |
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