View the step-by-step solution to:


On the basis of the following data, determine the value of the inventory at the lower of cost or market. Assemble

the data in the form illustrated in Exhibit 9.

Inventory Item Inventory Quantity Cost Per Unit Market Value per Unit

(Net Realizable Value)

Birch  100 $125 $120

Cypress 75   100  108  

Mountain Ash  80 90  86   Spruce  130  74  80 Willow  60  105   98

 Inventory at the Lower of Cost or Market

 Commodity Total Cost Total Market Total Lower of C or M

Birch $_____ $_____ $_____

Cypress $____ $____ $_____

Mountain Ash $____ $_____ $_____

Spruce $_____ $_____ $_____

Willow $_____ $____ $_____

Total $_____ $_____ $_____

Top Answer

The value of the inventory is $41,880. Commodity Total Cost Total Market Total Lower... View the full answer

Sign up to view the full answer

Why Join Course Hero?

Course Hero has all the homework and study help you need to succeed! We’ve got course-specific notes, study guides, and practice tests along with expert tutors.

  • -

    Study Documents

    Find the best study resources around, tagged to your specific courses. Share your own to gain free Course Hero access.

    Browse Documents
  • -

    Question & Answers

    Get one-on-one homework help from our expert tutors—available online 24/7. Ask your own questions or browse existing Q&A threads. Satisfaction guaranteed!

    Ask a Question