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Home > Education > Homework Help > Finance & Accounting   »   lower of cost or market

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Old Nov 14, 2007, 12:02 PM
chris100
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lower of cost or market

item items in inventory orig cost per unit total orig cost curr replacement cost
a 2,000 .89 $1780 $.88
b 2,000 1.30 2600 1.15
c 2,000 1.50 3000 .85
d 2,000 1.55 3100 1.65
e 2,000 1.80 3600 1.50
analysis:
item ceiling floor market lcm total
a
b
c
d
e
additional info:
selling price is $2/unit for all items. disposalcosts amount to 20% of selling price and a abnormal@ profit is 35% os selling price.
?complete last five columns shown above

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