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What will kingbird total ending inventory balance be

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Question

Kingbird, Inc. sells six different products. The following information is available on December 31:

Inventory item Units Cost per unit Market value per unit Estimated selling price

Tin 70 $570 $575 $585

Titanium 25 5700 5640 5810

Stainless steel 90 2280 2180 2260

Aluminum 90 400 325 330

Iron 45 460 470 485

Fiberglass 45 340 335 335

When applying the lower of cost or market rule to each item, what will Kingbird total ending inventory balance be?

Reference no: EM132386337

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