Laura's Homemade cannot decide which inventory method to use to determine its ending inventory. The accounting records for the current year contain the following information:
Compute the ending inventory under the following cost flow assumptions.
1) FIFO
2) lower of cost or market (based on average cost)

Question

Laura's Homemade cannot decide which inventory method to use to determine its ending inventory. The accounting records for the current year contain the following information:  
Compute the ending inventory under the following cost flow assumptions.
1) FIFO
2) lower of cost or market (based on average cost)

Quizplus · Accepted Answer

The Answer of Laura's Homemade cannot decide which inventory method to use to determine its ending inventory. The accounting records for the current year contain the following information:  
Compute the ending inventory under the following cost flow assumptions.
1) FIFO
2) lower of cost or market (based on average cost)

Laura's Homemade Cannot Decide Which Inventory Method to Use to Determine