Brief Exercise 140 Determine the unit value that should be used for inventory costing following "lower of cost or market value" as described in ARB No. 43. A B C D E F Cost $2.35 $2.47

$2.35 $2.54 $2.44 $2.44 Replacement cost 2.20 2.55 2.20 2.52 2.37 2.46 Net realizable value 2.50 2.50 2.50 2.45 2.50 2.50 Net realizable value less normal profit 2.25 2.30 2.40 2.30 2.30 2.30

*PLEASE SHOW PROCESS AND FORMULAS

Brief Exercise 140 Determine the unit value that should be used for inventory costing following "lower of cost or market value" as described in ARB No. 43. C D E Cost $2.35 $2.47 $2.35 $2.54 $2.44 $2.44 Replacement cost 2.20 2.55 2.20 2.52 2.37 Net realizable value 2.50 2.50 2.45 2.50 2.30 2.50 2.30 2.46 2.50 2.30 Net realizable value less normal profit 2.25 2.40 2.30 Case A ___ Case B Case C Case D Case E Case F