Solution-Determine the inventory as of december

Determine the inventory as of december

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Reference no: EM131788576

Problem - Lower-of-Cost-or-Market

The inventory of Oheto Company on December 31, 2011, consists of the following items.

Part No.	Quantity	Cost per Unit	Cost to Replace per Unit
110	600	$95	$100
111	1,000	60	52
112	500	80	76
113	200	170	180
120	400	205	208
121	1,600	16	14
122	300	240	235

(a) Determine the inventory as of December 31, 2011, by the lower-of-cost-or-market method, applying this method directly to each item.

(b) Determine the inventory by the lower-of-cost-or-market method, applying the method to the total of the inventory.

Reference no: EM131788576

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Determine the inventory as of december

Reference no: EM131788576

Reference no: EM131788576

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