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EX 7-7 Lower of Cost or Market 20 points Complete the following table applying the lower of cost or market method for so
Posted: Mon Apr 25, 2022 8:33 am
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- Ex 7 7 Lower Of Cost Or Market 20 Points Complete The Following Table Applying The Lower Of Cost Or Market Method For So 1 (32.06 KiB) Viewed 29 times
EX 7-7 Lower of Cost or Market 20 points Complete the following table applying the lower of cost or market method for solving the merchandise inventory valuation as described below. Total Cost Market LCM Inventory Item Birch Cypress Mountain Ash Spruce Willow Total Inventory Quantity 115 85 75 125 65 Cost per Unit $125 100 90 74 105 Market Value per Unit $120 108 86 80 98 The Merchandise Inventory account will be reported in the Balance Sheet for the amount of