Using the lower-of-cost-or-market method of inventory valuation, what should the total inventory value be for the following items:
$\begin{array}{|l|l|l|l|l|l|}
\hline \text { Item }& \text { Total market price } & \text { Total cost price } & \text { Unit market price } & \text { Unit cost price } & \text { Inventory Quantity } \
\hline \text { A }&900 & \$ 1,000 & \$ 4.50 & \$ 5 & 200 \
\hline\text { B } & 500 & 400 & 5.00 & 4 & 100 \
\hline \text { C } &325 & 350 & 5.50 & 7 & 50 \
\hline
\end{array}$

Question

Using the lower-of-cost-or-market method of inventory valuation, what should the total inventory value be for the following items:
 $\begin{array}{|l|l|l|l|l|l|}
\hline \text { Item }& \text { Total market price } & \text { Total cost price } & \text { Unit market price } & \text { Unit cost price } & \text { Inventory Quantity }  \
\hline  \text { A }&900 & \$ 1,000 & \$ 4.50 & \$ 5 & 200  \
\hline\text { B } & 500 & 400 & 5.00 & 4 & 100 \
\hline  \text { C } &325 & 350 & 5.50 & 7 & 50 \
\hline
\end{array}$

Quizplus · Accepted Answer

The Answer of Using the lower-of-cost-or-market method of inventory valuation, what should the total inventory value be for the following items:
 $\begin{array}{|l|l|l|l|l|l|}
\hline \text { Item }& \text { Total market price } & \text { Total cost price } & \text { Unit market price } & \text { Unit cost price } & \text { Inventory Quantity }  \
\hline  \text { A }&900 & \$ 1,000 & \$ 4.50 & \$ 5 & 200  \
\hline\text { B } & 500 & 400 & 5.00 & 4 & 100 \
\hline  \text { C } &325 & 350 & 5.50 & 7 & 50 \
\hline
\end{array}$

Using the Lower-Of-Cost-Or-Market Method of Inventory Valuation, What Should the Total