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, as shown in Exhibit 9. item Inventory quantity Cost per unit market value per unit (Net realizable value) ____________________________________________________________________________ Raven 10 1,700 $163 $159 Dove 23 9,200 24 30
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, as shown in Exhibit 9. item Inventory quantity Cost per unit market value per unit (Net realizable value) ____________________________________________________________________________ Raven 10 1,700 $163 $159 Dove 23 9,200 24 30
Corporate Financial Accounting
15th Edition
ISBN:9781337398169
Author:Carl Warren, Jeff Jones
Publisher:Carl Warren, Jeff Jones
Chapter6: Inventories
Section: Chapter Questions
Problem 7DQ: Using the following data, how should the inventory be valued under lower of cost or market? Original...
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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, as shown in Exhibit 9.
item Inventory quantity Cost per unit market value per unit
(Net realizable value)
____________________________________________________________________________
Raven 10 1,700 $163 $159
Dove 23 9,200 24 30
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