# Martinez companys ending inventory includes the

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Martinez Company’s ending inventory includes the following items.Per Unit
ProductUnitsCostMarketHelmets24\$ 50\$54Bats1778Shoes3895Uniforms4236Compute the lower of cost or market for ending inventory applied separately to each product.729136
A company reports the following beginning inventory and purchases for the month of January. OnJanuary 26, the company sells 350 units. 150 units remain in ending inventory at January 31.UnitsUnit CostBeginning inventory on January 1320\$ 3.00Purchase on January 9803.20Purchase on January 251003.34Assume the perpetual inventory system is used. Determine the costs assigned to ending inventory whencosts are assigned based on LIFO.(Round your per unit costs to 2 decimal places.)
January1320 @\$3.00 =\$960.00January980@\$3.20320 @\$3.00 =\$960.0080@\$3.20 =256.00\$1,216.00January25100 @\$3.34320@\$3.00 =\$960.0080@\$3.20 =256.00100@3.34 =334.00\$1,550.00January26170@\$3.00=\$510.00 150@\$3.00 =\$450.0080@\$3.20=256.000@\$3.20 =100@3.34=334.000@3.34Totals\$1,100.00\$450.00LIFODateGoodsPurchasedCost of Goods SoldInventory Balance1/ 1320@ \$3.00 =\$ 9601/ 980 @ \$3.20320@ \$3.0080@ \$3.20 =\$1,2161/25100 @ \$3.34320@ \$3.0080@ \$3.20 =\$1,550100@ \$3.341/26100@ \$3.34=\$33480@ \$3.20=256170@\$3.00 =510150@ \$3.00 =\$ 450\$1,100A company reports the following beginning inventory and purchases for the month of January. OnJanuary 26, the company sells 350 units. 150 units remain in ending inventory at January 31.UnitsUnit CostBeginning inventory on January 1320\$ 3.00Purchase on January 9803.20Purchase on January 251003.34
Assume the periodic inventory system is used. Determine the costs assigned to ending inventory whencosts are assigned based on the FIFO method.

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