Question

On the basis of the following data: Commodity Inventory Quantity Unit Cost Price Unit Market Price...

On the basis of the following data:

Commodity

Inventory
Quantity

Unit
Cost Price

Unit
Market Price
AL65 32 $277 $259
CA22 19 285 277
LA98 11 286 283
SC16 8 164 144
UT28 10 106 92

Determine the value of the inventory at the lower of cost or market. Assemble the data in the form illustrated in Exhibit 10.

Inventory at the Lower of Cost or Market
Commodity Total Cost Total Market Total Lower of C or M
AL65 $ $ $
CA22
LA98
SC16
UT28
Total $ $ $
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