A company reports inventory using lower-of-cost-or-market.Below is information related to its year-end inventory:
$$\begin{array} { r c c c }
\text { Inventory } & \text { Quantity } & \text { Cost } & \text { Market } \
\text { Unit A } & 10 & \$ 30 & \$ 32 \
\text { Unit B } & 18 & 43 & 40 \
\text { Unit C } & 12 & 23 & 27 \
\text { Unit D } & 15 & 18 & 17
\end{array}$$
Calculate ending inventory under lower-of-cost-or-market and record any necessary adjustment to inventory.

Question

A company reports inventory using lower-of-cost-or-market.Below is information related to its year-end inventory:
$$\begin{array} { r c c c } 
\text { Inventory } & \text { Quantity } & \text { Cost } & \text { Market } \
\text { Unit A } & 10 & \$ 30 & \$ 32 \
\text { Unit B } & 18 & 43 & 40 \
\text { Unit C } & 12 & 23 & 27 \
\text { Unit D } & 15 & 18 & 17
\end{array}$$
Calculate ending inventory under lower-of-cost-or-market and record any necessary adjustment to inventory.

Quizplus · Accepted Answer

The Answer of A company reports inventory using lower-of-cost-or-market.Below is information related to its year-end inventory:
$$\begin{array} { r c c c } 
\text { Inventory } & \text { Quantity } & \text { Cost } & \text { Market } \
\text { Unit A } & 10 & \$ 30 & \$ 32 \
\text { Unit B } & 18 & 43 & 40 \
\text { Unit C } & 12 & 23 & 27 \
\text { Unit D } & 15 & 18 & 17
\end{array}$$
Calculate ending inventory under lower-of-cost-or-market and record any necessary adjustment to inventory.

A Company Reports Inventory Using Lower-Of-Cost-Or-Market Calculate Ending Inventory Under Lower-Of-Cost-Or-Market and Record Any Necessary Adjustment