Product

Inventory

Quantity

Cost

per Unit Market Value

per Unit

$($Net Realizable

Value$)$

Cost

Market

Lower of

Cost or

Market

Class $1$: blank blank blank blank blank blank

Model A Model A

$Model A

$Model A

$Model A

$Model A

blank

Model B Model B

Model B

Model B

Model B

Model B

blank

Model C Model C

Model C

Model C

Model C

Model C

blank

Subtotal blank blank blank $Subtotal

$Subtotal

$Subtotal

Class $2$: blank blank blank blank blank blank

Model D Model D

Model D

Model D

$Model D

$Model D

blank

Model E Model E

Model E

Model E

Model E

Model E

blank

Subtotal blank blank blank $Subtotal

$Subtotal

Subtotal

Total blank blank blank $Total

$Total

$Total

Question Content Area

c$.$ Determine the value of the inventory at the lower of cost or market applied to total inventory.

Inventory at the Lower of Cost or Market

Product

Inventory

Quantity

Cost

per Unit Market Value

per Unit

$($Net Realizable

Value$)$

Cost

Market Lower of

Cost or

Market

Model A Model A

$Model A

$Model A

$Model A

$Model A

blank

Model B Model B

Model B

Model B

Model B

Model B

blank

Model C Model C

Model C

Model C

Model C

Model C

blank

Model D Model D

Model D

Model D

Model D

Model D

blank

Model E Model E

Model E

Model E

Model E

Model E

blank

Total blank blank blank $Total

$Total

$Total