Chapter 6, Problem 6.15EX

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 9.

Product	Inventory Quantity	Cost per Unit	Market Value per Unit (Net Realizable Value)
Model A	300	$140	$125
Model B	500	90	112
Model C	150	60	59
Model D	800	120	115
Model E	400	140	145