Lower-of-Cost-or-Market Inventory On the basis of the following data, determine the value of the inventory at the lower of cost or market. Assemble the data in the form illustrated in Exhibit 10. Product Class 1: Model A Model B Model C Class 2: Model D Model E Inventory Quantity 24 25 22 26 31 Cost Per Unit $70 3 65 184 45 276

Market Value per Unit (Net Realizable Value) $74 87 173 69 280 a. Determine the value of the inventory at the lower of cost or market applied to each item in the inventory.

b. Determine the value of the inventory at the lower of cost or market applied to pach class of inventory. Inventory at the Lower of Cost or Market c. Determine the value of the inventory at the lower of cost or market applied to total inventory. Exhibit 10 Determining Inventory at Lower of Cost or Market (LCM) Lower-of-Cost-or-Market Inventory On the basis of the following data, determine the value of the inventory at the lower of cost or market. Assemble the data in the form illustrated in Exhibit 10. a. Determine the value of the inventory at the lower of cost or market applied to each item in the inventory. c. Determine the value of the inventory at the lower of cost or market applied to total inventory. b. Determine the value of the inventory at the lower of cost or market applied to each class of inventory. a. Determine the value of the inventory at the lower of cost or market applied to each item in the inventory