Boulder, Inc. is computing its inventory at December 31, 2014. The following information relates to the five major inventory items regularly stocked for resale. Required:
Using the lower of cost or market rule, compute the total valuation for each inventory item at December 31, 2014, and the total inventory valuation.

Question

Boulder, Inc. is computing its inventory at December 31, 2014. The following information relates to the five major inventory items regularly stocked for resale.  Required:
Using the lower of cost or market rule, compute the total valuation for each inventory item at December 31, 2014, and the total inventory valuation.

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The Answer of Boulder, Inc. is computing its inventory at December 31, 2014. The following information relates to the five major inventory items regularly stocked for resale.  Required:
Using the lower of cost or market rule, compute the total valuation for each inventory item at December 31, 2014, and the total inventory valuation.