Memphis Wholesale Market applies the lower of cost or net realizable valuation to individual products and has collected the following data:
$\begin{array}{lccc}&\text { Product A }&\text { Product B }&\text { Product C }\
\text { Selling price } & \$ 100 & \$ 125 & \$ 80 \
\text { Cost } & 70 & 75 & 80 \
\text { Costs to sell } & 15 & 20 & 8
\end{array}$

-Determine the inventory book value for Products A, B, and C.

Question

Memphis Wholesale Market applies the lower of cost or net realizable valuation to individual products and has collected the following data:
$\begin{array}{lccc}&\text { Product A }&\text { Product B }&\text { Product C }\
\text { Selling price } & \$ 100 & \$ 125 & \$ 80 \
\text { Cost } & 70 & 75 & 80 \
\text { Costs to sell } & 15 & 20 & 8
\end{array}$

-Determine the inventory book value for Products A, B, and C.

Quizplus · Accepted Answer

The Answer of Memphis Wholesale Market applies the lower of cost or net realizable valuation to individual products and has collected the following data:
$\begin{array}{lccc}&\text { Product A }&\text { Product B }&\text { Product C }\
\text { Selling price } & \$ 100 & \$ 125 & \$ 80 \
\text { Cost } & 70 & 75 & 80 \
\text { Costs to sell } & 15 & 20 & 8
\end{array}$

-Determine the inventory book value for Products A, B, and C.

Memphis Wholesale Market Applies the Lower of Cost or Net