Raleigh Co. has the following products in its ending inventory. Compute the lower of cost or market total for inventory applied separately to each product. $$\begin{array} { | l | l | l | l | }
\hline \text { Product } & \text { Quantity } & \text { Cost per unit } & \text { Market per unit } \
\hline \text { Jelly } & 150 & \$ 2.00 & 2.15 \
\hline \text { Jam } & 370 & \$ 2.65 & 2.50 \
\hline \text { Marmalade } & 260 & \$ 3.10 & 3.05 \
\hline
\end{array}$$
A)$2,086.50.
B)$2,053.50.
C)$2,040.50.
D)$2,018.00.
E)$2,109.00.

Question

Raleigh Co. has the following products in its ending inventory. Compute the lower of cost or market total for inventory applied separately to each product. $$\begin{array} { | l | l | l | l | } 
\hline \text { Product } & \text { Quantity } & \text { Cost per unit } & \text { Market per unit } \
\hline \text { Jelly } & 150 & \$ 2.00 & 2.15 \
\hline \text { Jam } & 370 & \$ 2.65 & 2.50 \
\hline \text { Marmalade } & 260 & \$ 3.10 & 3.05 \
\hline
\end{array}$$
A)$2,086.50.
B)$2,053.50.
C)$2,040.50.
D)$2,018.00.
E)$2,109.00.

Quizplus · Accepted Answer

The Answer of Raleigh Co. has the following products in its ending inventory. Compute the lower of cost or market total for inventory applied separately to each product. $$\begin{array} { | l | l | l | l | } 
\hline \text { Product } & \text { Quantity } & \text { Cost per unit } & \text { Market per unit } \
\hline \text { Jelly } & 150 & \$ 2.00 & 2.15 \
\hline \text { Jam } & 370 & \$ 2.65 & 2.50 \
\hline \text { Marmalade } & 260 & \$ 3.10 & 3.05 \
\hline
\end{array}$$
A)$2,086.50.
B)$2,053.50.
C)$2,040.50.
D)$2,018.00.
E)$2,109.00.

Raleigh Co A)$2,08650