Lower of Cost or Market Method On the basis of the data shown below Item Inventory Quantity Cost per Unit Market Value per Unit (Net Realizable Value) Raven 10 1,700 $163 $159 Dove 23 9,200 24 30 Determine the value of the inventory at the lower of cost or market Apply lower of cost or market to each inventory item, as shown in Exhibit 9 $fill in the blank 1

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Question: Lower-of-Cost-or-Market Method On the basis of the data shown below: Item Inventory Quantity Cost per Unit Market Value per Unit (Net Realizable Value) Raven 10

Lower-of-Cost-or-Market Method

On the basis of the data shown below:

Item	Inventory Quantity	Cost per Unit	Market Value per Unit (Net Realizable Value)
Raven 10	1,700	$163	$159
Dove 23	9,200	24	30

Determine the value of the inventory at the lower of cost or market. Apply lower of cost or market to each inventory item, as shown in Exhibit 9. $fill in the blank 1

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