This preview shows pages 1–2. Sign up to view the full content.
This preview has intentionally blurred sections. Sign up to view the full version.View Full Document
Unformatted text preview: If the current replacement cost is between the floor and the ceiling, the current replacement cos If the current replacement cost is greater than the ceiling, the ceiling amount is the market amou If the current replacement cost is lower than the floor, the floor amount is the market amount. LCM Inventory $54,000 $52,000 $38,000 $34,000 $82,000 $22,400 $70,500 $352,900 , applying this method directly to each item he total of the inventory. st is the market amount. unt....
View Full Document
This note was uploaded on 11/08/2010 for the course ACCOUNTING 422 taught by Professor Asd during the Spring '10 term at University of Phoenix.
- Spring '10