Ames Trading Co. has the following products in its ending inventory. Product Quantity Cost per Unit Market per Unit Mountain bikes 30 $ 700 $650 Skateboards 26 230 260 Gliders 12 870 830 Compute lower cost or market for inventory applied separately to each product.

Ames Trading Co. has the following products in its ending inventory. Product Quantity Cost per Unit Market per Unit Mountain bikes 30 $ 700 $650 Skateboards 26 230 260 Gliders 12 870 830 Compute lower cost or market for inventory applied separately to each product.

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter8: Inventories: Special Valuation Issues

Section: Chapter Questions

Problem 2RE: Black Corporation uses the LIFO cost flow assumption. Each unit of its inventory has a net...

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Question

following is ending inventory please give answer for each product.

Ames Trading Co. has the following products in its
ending inventory.
Product
Quantity
Cost per Unit
Market per Unit
Mountain bikes
30
$ 700
$650
Skateboards
26
230
260
Gliders
12
870
830
Compute lower cost or market for inventory applied
separately to each product.

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