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On the basis of the following data, determine the value of the inventory at the lower of cost or market. Total Market Value per Unit (Net Realizable Value) Product Adams Coolidge McKinley Garfield Lincoln Total Inventory Quantity Cost per Unit $139 112 279 287 47 Cost Market LCM 20 49 45 26 8 $158 89 288 262

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Answer #1
Total  
Product Inventory quantity Cost per unit Market value per unit (NRV) Cost   Market LCM
Adams                           20                 139                                          158           2,780       3,160       2,780
Coolidge                           49                 112                                            89           5,488       4,361       4,361
Mckinley                           45                 279                                          288         12,555     12,960     12,555
Garfield                           26                 287                                          262           7,462       6,812       6,812
Lincoln                             8                   47                                            44              376          352          352
Total
           28,661       27,645     26,860
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