Ordering Question

Click and drag on elements in order

Review the steps below that apply LCM to individual items of inventory. Place them in the correct order of occurrence.

$($i$)$ Instructions

List the number of units of each product.

List the cost of each item.

List the market price of each item.

Compute total cost and total market value for each item.

Compare recorded cost of each inventory item with its replacement cost. List lower of cost or market.

Adjust inventory downward when market is less than cost.