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 9.

Exhibit 9

Inventory Item	Inventory Quantity	Cost per Unit	Market Value per Unit (Net Realizable Value)
Birch	35	$241	$265
Cypress	27	75	58
Mountain Ash	39	93	113
Spruce	44	210	233
Willow	47	264	241

Inventory at the Lower of Cost or Market
Commodity	Total Cost	Total Market	Total Lower of C or M
Birch	$	$	$
Cypress
Mountain Ash
Spruce
Willow
Total	$	$	$

Answer rating: 100% (QA)

Total cost UnitsCost price Total Market value Units Market Pice All below ... View the full answer