Americus Camera Shop uses the lower-of-cost-or-market basis for its inventory.The following data are available at December 31
| Units | Unit Cost | Market | |
| Cameras: | |||
| Minolta | 5 | 170 | 156 |
| Canon | 6 | 150 | 152 |
| Light meters: | |||
| Vivitar | 12 | 125 | 115 |
| Kodak | 14 | 120 | 135 |
Instructions
Determine the amount of the ending inventory by applying the lower-of-cost-or-market basis.
No comments:
Post a Comment