The Vogelson Company accumulates the following cost and market value data at December 31. $\begin{array}{ccc}
&&\text { Market }\
\underline{\text { Inventory Categories } }& \underline{\text { Cost Data } }& \underline{\text { Value Data }}\
\text { Camera } & \$ 11,000 & \$ 9,900 \
\text { Camcorders } & 7,800 & 8,500 \
\text { DVDs } & 14,000 & 12,000
\end{array}$
What is the lower-of-cost-or-market of the inventory?

Question

The Vogelson Company accumulates the following cost and market value data at December 31. $\begin{array}{ccc}
&&\text { Market }\
 \underline{\text { Inventory Categories } }& \underline{\text { Cost Data } }& \underline{\text { Value Data }}\
\text { Camera } & \$ 11,000 & \$ 9,900 \
\text { Camcorders } & 7,800 & 8,500 \
\text { DVDs } & 14,000 & 12,000
\end{array}$
 What is the lower-of-cost-or-market of the inventory?

Quizplus · Accepted Answer

The Answer of The Vogelson Company accumulates the following cost and market value data at December 31. $\begin{array}{ccc}
&&\text { Market }\
 \underline{\text { Inventory Categories } }& \underline{\text { Cost Data } }& \underline{\text { Value Data }}\
\text { Camera } & \$ 11,000 & \$ 9,900 \
\text { Camcorders } & 7,800 & 8,500 \
\text { DVDs } & 14,000 & 12,000
\end{array}$
 What is the lower-of-cost-or-market of the inventory?

The Vogelson Company Accumulates the Following Cost and Market Value