Lower-of-cost-or-market inventory

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Reference no: EM13953002

Lower-of-Cost-or-Market Inventory

On the basis of the following data, determine the value of the inventory at the lower of cost or market.

Commodity	Inventory Quantity	Unit Cost Price	Unit Market Price
Ash	80	$140	$125
Aspen	120	90	112
Beech	30	75	74
Maple	75	88	86
Oak	60	140	145


Inventory at the Lower of Cost or Market

Commodity	Total Cost	Total Market	Total Lower of C or M
Ash	$____	$____	$____
Aspen	____	____	____
Beech	____	____	____
Maple	____	____	____
Oak	____	____	____
Total	$____	$____	$____

Reference no: EM13953002

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