Lower-of-Cost-or-Market Method On the basis of the following data, 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 10.   Item Inventory Quantity Cost per Unit Market Value per Unit (Net Realizable Value) JFW1   70 $30 $34 SAW9 148   14   11

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Chapter1: Financial Statements And Business Decisions
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Lower-of-Cost-or-Market Method

On the basis of the following data, 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 10.

 

Item Inventory Quantity Cost per Unit Market Value per Unit
(Net Realizable Value)
JFW1   70 $30 $34
SAW9 148   14   11
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