Working Papers for Warren/Reeve/Duchac's Corporate Financial Accounting, 14th
14th Edition
ISBN: 9781305878839
Author: Carl Warren, Jonathan Duchac, James M. Reeve
Publisher: Cengage Learning
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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 |
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Chapter 6 Solutions
Working Papers for Warren/Reeve/Duchac's Corporate Financial Accounting, 14th
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