Martinez Company's ending inventory includes the following items.
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Per Unit | |||||
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Product | Units | Cost | Market | ||
Helmets | 24 | $ | 50 | $ | 54 |
Bats | 17 | 78 | 72 | ||
Shoes | 38 | 95 | 91 | ||
Uniforms | 42 | 36 | 36 | ||
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Required:
Compute the lower of cost or market for ending inventory applied separately to each product.
Lower of cost or market of inventory by product = $7,394 |
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