Inventory Valuation_LCM

$4.00

Description

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

Buffal

35

$115

$120

Dakota

67

90

75

Frontier

8

300

280

Midwest

83

40

30

Rainbow

100

90

94

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