A company had the following ending inventory costs:
$$\begin{array} { | c | c | r | r | }
\hline \text { Product } & \text { Units of Hand } & \text { Unit Cost } & \text { Market Value } \
\hline \text { A } & 10 & \$ 5 &\$ 6 \
\hline \text { B } & 50 & 8 & 7 \
\hline \text { C } & 35 & 10 & 11 \
\hline
\end{array}$$ Required:
Calculate the lower of cost or market (LCM) value for each individual item.

Question

A company had the following ending inventory costs:
 $$\begin{array} { | c | c | r | r | } 
\hline \text { Product } & \text { Units of Hand } & \text { Unit Cost } & \text { Market Value } \
\hline \text { A } & 10 & \$ 5 &\$ 6  \
\hline \text { B } & 50 & 8 & 7 \
\hline \text { C } & 35 & 10 & 11 \
\hline
\end{array}$$ Required:
Calculate the lower of cost or market (LCM) value for each individual item.

Quizplus · Accepted Answer

The Answer of A company had the following ending inventory costs:
 $$\begin{array} { | c | c | r | r | } 
\hline \text { Product } & \text { Units of Hand } & \text { Unit Cost } & \text { Market Value } \
\hline \text { A } & 10 & \$ 5 &\$ 6  \
\hline \text { B } & 50 & 8 & 7 \
\hline \text { C } & 35 & 10 & 11 \
\hline
\end{array}$$ Required:
Calculate the lower of cost or market (LCM) value for each individual item.

A Company Had the Following Ending Inventory Costs Required: Calculate the Lower of Cost or Market (LCM) Value

A Company Had the Following Ending Inventory Costs Required:
Calculate the Lower of Cost or Market (LCM) Value