The disposal costs are 20% of the selling price and the normal profit margin on all feed is 25% of the selling price.
-Required: Determine the reported inventory value assuming the lower of cost or market rule is applied to categories of feed products.

Question

The disposal costs are 20% of the selling price and the normal profit margin on all feed is 25% of the selling price. 
-Required: Determine the reported inventory value assuming the lower of cost or market rule is applied to categories of feed products.

Quizplus · Accepted Answer

The Answer of The disposal costs are 20% of the selling price and the normal profit margin on all feed is 25% of the selling price. 
-Required: Determine the reported inventory value assuming the lower of cost or market rule is applied to categories of feed products.

The Disposal Costs Are 20% of the Selling Price and the Normal