At year-end, Dana Corporation has 5,000 pieces of tie, 4,000 pieces of shirt, and 8,000 pieces of blouse in its ending inventory. Specific data with respect to each item follows:

 

What amount will Dana report for ending inventory using lower-of-cost-or-market value?

Transcribed Image Text:

Data Cost Market (NRV) Tie $80 70 Shirt $100 Blouse $150 120 140 Data Cost Market (NRV) Tie $80 70 Shirt $100 Blouse $150 120 140

Answer rating: 100% (QA)

Ending Inventory Value is 1120000 Prod... View the full answer