Item Inventory Quantity Cost per Unit Market Value per Unit (Net Realizable Value) JFW1 6,330 $10 $1 SAW9 1,140 36 34 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 9.
Item Inventory Quantity Cost per Unit Market Value per Unit (Net Realizable Value) JFW1 6,330 $10 $1 SAW9 1,140 36 34 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 9.
Chapter5: Operating Activities: Purchases And Cash Payments
Section: Chapter Questions
Problem 3.9C
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Lower-of-Cost-or-Market Method
On the basis of the following data:
Item Inventory Quantity Cost per Unit
Market Value per Unit
(Net Realizable Value)
JFW1
6,330
$10
$11
SAW9
1,140
36
34
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 9.
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