Determine the ending inventory amount by applying the lower of cost or market value to a. Each inventory item of inventoryb. Total inventory The following data refer to Froning Company’s ending inventoryItem Code,  Quantity,  Unit  Cost,  Unit MarketLXC               60             $45             $48KMT              210           $38             $34MOR              300          $22             $20NES                100          $27              $32

Calculate a) cost of goods sold, b) ending inventory, and c) gross margin for A76 Company, considering the following transactions under three different cost allocation methods and using perpetual inventory updating. Provide calculations for last-in, first-out (LIFO).                                Number of units           Unit cost                      Unit sales Beginning invengtory   240                          $100 Sold                               160                                                                 $140 Purchased                      520                          $103 Sold                                400                                                                 $142 Purchased                       400                          $110 Sold                                 370                                                                  $144 Ending inventory             230

Given the following:   Numberpurchased Costper unit Total January 1 inventory   30     $ 5     $ 150   April 1   50       8       400   June 1   40       9       360   November 1   45       10       450       165             $ 1,360      a.  Calculate the cost of ending inventory using the LIFO (ending inventory shows 51 units).     b. Calculate the cost of goods sold using the LIFO (ending inventory shows 51 units).

On the basis of the following data, determine the value of the inventory at the lower of cost or market. Apply lower of cost or market to each inventory item. Item A B с Total Inventory Quantity 181 82 60 Cost per Unit $10 14 20 Market value per Unit $14 11 22 Cost $1,810 1,148 1,200 Total Market $2,534 902 1,320 LA LCM

Lower-of-Cost-or-Market InventoryOn the basis of the following data, determine the value of the inventory at the lower of cost or market. Assemble the data in the form illustrated in Exhibit 9. ProductInventoryQuantityUnitCost PriceUnitMarket Value per Unit(Net Realizable Value)Model A300$140$125Model B50090112Model C1506059Model D800120115Model E400140145 Inventory at the Lower of Cost or MarketProductTotal CostTotal MarketLower of Total Cost or Total MarketA$$$B   C   D   E   Total$$$

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             $ $ $

Refer to the data in attached image. 1.Using the perpetual inventory system, compute the cost of ending inventory, cost of goods sold, and gross margin. Use the average-cost, FIFO, and LIFO inventory costing methods. (Round unit costs to the nearest cent.) 2.Explain the reasons for the differences in gross mar-gin produced by the three methods.

You are given the following data in relation to two items held in inventory. Item A Item B Purchase price Select one: O a. 230 b. 240 O c. 170 d. 196 e. 206 160 40 200 Costs incurred to date 20 10 30 Estimated selling price 170 80 250 Selling costs 24 20 44 What is the aggregate amount at which inventories of these items should be stated in the statement of financial position?

What is the correct ending balance of Inventory under the LIFO method given the following information? Beginning Inventory: 35 units @€17, Purchase 1: 10 units @€22, Purchase 2: 15 units @€35, Ending Inventory: 40 units. Assume that the sale occurs after all inventory purchases. Answer: X

nventory Write-Down The following information is taken from Aden Company's records:   Product Group Units Cost/Unit Market/Unit A 1 600   $1.10   $0.90       B 1 250   1.50   1.55       C 2 200   4.90   5.15       D 2 100   6.50   6.40       E 3 80   25.00   24.60         Required: What is the correct inventory value if the company applies the LCNRV rule to each of the following?