Wildhorse Co. accumulates the following cost and market data at December 31. Inventory Categories Cost Data Market Data Cameras $10,871 $11,951 Camcorders 8,628 9,488 DVDs 10,960 9,660 Compute the lower-of-cost-or-market valuation for company’s inventory. The lower-of-cost-or-market value $Enter a dollar amount

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Inventory Valuation

Before discussing the topic inventory valuation let’s discuss the meaning of inventory. In accounting, inventory is also known as stock. Inventory means all the finished goods, materials, merchandise that a business holds for the purpose of selling it in the market with the motive of earning profit.