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

Respuesta :

Answer:

Total inventory value is $41,880.

Explanation:

Note: See the attached excel file for the calculation of the the value of the inventory at the lower of cost or market.

From the attached excel file, we have:

Inventory Item       Total Lower of Cost or Market ($)

Birch                                               12,000

Cypress                                           7,500

Mountain Ash                                 6,880

Spruce                                             9,620

Willow                                             5,880

Total                                              41,880

Therefore, total inventory value is $41,880.

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