On the basis of the following data, determine the value of the inventory at the lower of cost or market. Assemble the data in the form
| Inventory | Unit Cost | Unit Market | |
| Product | Quantity | Cost | Value |
| Adams | 100 | $140 | $125 |
| Coolidge | 375 | 90 | 112 |
| McKinley | 220 | 60 | 59 |
| Garfield | 900 | 120 | 115 |
| Lincoln | 626 | 140 | 145 |
Darshita Changed status to publish August 13, 2020
Answer:
value of inventory =$250,370
Explanation
| Cost | Market | LCM |
| 14000 | $ 12,500 | $ 12,500 |
| 33750 | 42000 | 33750 |
| 13200 | 12980 | 12980 |
| 108000 | 103500 | 103500 |
| 87640 | 90770 | 87640 |
| $256,590 | $261,750 | $250,370 |
Darshita Changed status to publish August 13, 2020
