on the basis of the following data determine the value of the inventory at the lower 549615
EX 7-11 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. Assemble the data in the form illustrated in Exhibit 8.
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on the basis of the following data determine the value of the inventory at the lower 549615
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|
Inventory |
Unit |
Unit |
|
|
Commodity |
Quantity |
Cost Price |
Market Price |
|
AL65 |
40 |
$28 |
$30 |
|
CA22 |
50 |
70 |
65 |
|
LA98 |
110 |
6 |
5 |
|
SC16 |
30 |
40 |
30 |
|
UT28 |
75 |
60 |
62 |
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