Robert llc purchased two units of inventory

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Reference no: EM13917139

On April 1, Robert LLC purchased two units of inventory, A and B. The cost of unit A was $655, and the cost of unit B was $555. On April 30, Robert LLC had not sold the inventory. The market value of unit A was now $670 while the market value of unit B was $470. The adjustment associated with the lower-of-cost-or-market method on April 30 will be:

Cost of Goods Sold	70
Inventory		70

Inventory	70
Cost of Goods Sold		70

Cost of Goods Sold	85
Inventory		85

Inventory	85
Cost of Goods Sold		85

Reference no: EM13917139

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