Martinez companys ending inventory includes the

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Martinez Company’s ending inventory includes the following items. Per Unit Product Units Cost Market Helmets 24 $ 50 $54 Bats 17 78 Shoes 38 95 Uniforms 42 36 Compute the lower of cost or market for ending inventory applied separately to each product. 72 91 36
Lower of cost or market of inventory by product = $7,39 A company reports the following beginning inventory and purchases for the month of January. On January 26, the company sells 350 units. 150 units remain in ending inventory at January 31. Units Unit Cost Beginning inventory on January 1 320 $ 3.00 Purchase on January 9 80 3.20 Purchase on January 25 100 3.34 Assume the perpetual inventory system is used. Determine the costs assigned to ending inventory when costs are assigned based on LIFO. (Round your per unit costs to 2 decimal places.)
17 0 @ $3.00 = 510 150 @ $3.00 = $ 450 $1,100 A company reports the following beginning inventory and purchases for the month of January. On January 26, the company sells 350 units. 150 units remain in ending inventory at January 31. Units Unit Cost Beginning inventory on January 1 320 $ 3.00 Purchase on January 9 80 3.20 Purchase on January 25 100 3.34 Assume the periodic inventory system is used. Determine the costs assigned to ending inventory when costs are assigned based on the FIFO method.

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