Fenton Company applied FIFO to its inventory and got the following results for its ending inventory .

Question:

Fenton Company applied FIFO to its inventory and got the following results for its .
Cameras 100 units at a cost per unit of ....... $68
DVD players 150 units at a cost per unit of ..... $75
iPods 125 units at a cost per unit of ........ $80
The cost of purchasing units at year-end was cameras $70, DVD players $69, and iPods $78.

Instructions
Determine the amount of at lower-of-cost-or-market.

Ending Inventory
The ending inventory is the amount of inventory that a business is required to present on its balance sheet. It can be calculated using the ending inventory formula Ending Inventory Formula =...