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Question

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

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