The Entertainment Center accumulates the following cost and market data at December 31. $\begin{array}{lrrr}
\text { \text{ Inventory } } & & \text { \text{ Cost } } & \text { \text{ Market} } \
\text { \underline{\text{ Categories }} } & & \text { \underline{\text{ Data }} } & \text { \underline{\text{ Data }} } \
\text { Camera } & & \$ 11,000 & 10,200 \
\text { Camcorders } & & 8,000 & 8,500\
\text { DVDs} & & 14,000 & 12,600\
\end{array}$ What is the lower-of-cost-or-market value of the inventory?

Question

The Entertainment Center accumulates the following cost and market data at December 31. $\begin{array}{lrrr}
\text {  \text{ Inventory }     } & & \text {  \text{ Cost }    } & \text {  \text{ Market}    } \
\text { \underline{\text{ Categories }}    } & & \text { \underline{\text{ Data }}   } & \text { \underline{\text{ Data }}    } \
\text { Camera } & & \$ 11,000 & 10,200  \
\text { Camcorders } & & 8,000 &   8,500\
\text {  DVDs} & & 14,000 &   12,600\ 
\end{array}$ What is the lower-of-cost-or-market value of the inventory?

Quizplus · Accepted Answer

The Answer of The Entertainment Center accumulates the following cost and market data at December 31. $\begin{array}{lrrr}
\text {  \text{ Inventory }     } & & \text {  \text{ Cost }    } & \text {  \text{ Market}    } \
\text { \underline{\text{ Categories }}    } & & \text { \underline{\text{ Data }}   } & \text { \underline{\text{ Data }}    } \
\text { Camera } & & \$ 11,000 & 10,200  \
\text { Camcorders } & & 8,000 &   8,500\
\text {  DVDs} & & 14,000 &   12,600\ 
\end{array}$ What is the lower-of-cost-or-market value of the inventory?

The Entertainment Center Accumulates the Following Cost and Market Data