Question: Tanzy Company's ending inventory includes the following items. Calculate the lower cost or market for ending inventory (a) as a whole & (b) applied separately to each product.
Suggestion: b) $6,896
|
Product
|
Units
|
Cost
|
Market
|
|
Helmets
|
22
|
$50
|
$54
|
|
Bats
|
15
|
78
|
72
|
|
Shoes
|
36
|
95
|
91
|
|
Uniforms
|
40
|
36
|
36
|