Basic inventory data, Basic inventory data for June are

Basic inventory data

Assignment Help Financial Accounting

Reference no: EM13948516

Basic inventory data for June are presented below for a business that employs the lower of cost or market basis of inventory valuation.

A	30	$62.00	65.00
B	12	144.00	144.00
C	45	105.00	101.00
D	36	64.00	57.00

item, inventory qty, unit cost price, unit market price, cost market price, cost, market , lower of cost or market

Columns: Cost, Market, Lower of cost or market should be filled in.

A. Complete the table.

B. Determine the amount of reduction in the inventory at June 30 attributable to market decline.

Reference no: EM13948516

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