Jones Sports Shop has the following inventory on hand. Determine the total value of this ending inventory using the lower-of-cost-or-market rule: $\begin{array}{llll}
& & \text { Unit Price } & \text { Unit Price } \
\text { Item } & \text { Quantity } & \text { Cost } & \text { Market } \
\hline \text { Skate Boards } & 60 & \$ 52.50 & \$ 56.80 \
\text { Tennis Rackets } & 40 & 29.60 & 30.00 \
\text { Treadmills } & 4 & 319.75 & 306.50 \
\text { Golf Club Sets } & 8 & 253.15 & 265.10
\end{array}$

Question

Jones Sports Shop has the following inventory on hand. Determine the total value of this ending inventory using the lower-of-cost-or-market rule: $\begin{array}{llll} 
& & \text { Unit Price } & \text { Unit Price } \
\text { Item } & \text { Quantity } & \text { Cost } & \text { Market } \
\hline \text { Skate Boards } & 60 & \$ 52.50 & \$ 56.80 \
\text { Tennis Rackets } & 40 & 29.60 & 30.00 \
\text { Treadmills } & 4 & 319.75 & 306.50 \
\text { Golf Club Sets } & 8 & 253.15 & 265.10
\end{array}$

Quizplus · Accepted Answer

The Answer of Jones Sports Shop has the following inventory on hand. Determine the total value of this ending inventory using the lower-of-cost-or-market rule: $\begin{array}{llll} 
& & \text { Unit Price } & \text { Unit Price } \
\text { Item } & \text { Quantity } & \text { Cost } & \text { Market } \
\hline \text { Skate Boards } & 60 & \$ 52.50 & \$ 56.80 \
\text { Tennis Rackets } & 40 & 29.60 & 30.00 \
\text { Treadmills } & 4 & 319.75 & 306.50 \
\text { Golf Club Sets } & 8 & 253.15 & 265.10
\end{array}$

Jones Sports Shop Has the Following Inventory on Hand