Martinez Company’s ending inventory includes the following items. Product Helmets Bats Shoes Uniforms Units Cost per…
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Question “Martinez Company’s ending inventory includes the following items. Product Helmets Bats Shoes Uniforms Units Cost per…”
Martinez Company’s ending inventory includes the following items. Product Helmets Bats Shoes Uniforms Units Cost per Unit 40 $ 62 33 99 58 44 Market per Unit $ 58 112 103 80 54 44 Compute the lower of cost or market for ending inventory applied separately to each product.
Per Unit Total Market Inventory Items Units Cost Market Cost LCM Applied to Items Helmets Bats Shoes 40 $ 33 54 58 62 $ 80 99 44 58 1121 103 44 Uniforms $ 0 $ 0
Answer
o Total Market Lemapplied To otents Inventory Price Units Cost Market Item 2370 (m). Helmets – 40 $62 $52 112 Bats 2480 2220 (40×62) (40458 ) 2640 3696. (38 480) (33*112) 5846 5562 (54×99) (54×103) 2552 2552 58×44 58844 2640 (cost) 5346 (Cost) 103 shoes 2552 (coston mr Uniforms 44 58 44 14130 12858 13018
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