Calculate the total value of this company's ending inventory
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A company has the following per unit original costs and replacement costs for its inventory:
Part A: 50 units with a cost of $5, and replacement cost of $4.50
Part B: 75 units with a cost of $6, and replacement cost of $6.50
Part C: 160 units with a cost of $3, and replacement cost of $2.50
Under the lower of cost or market method, the total value of this company's ending inventory is:
$1,180.00.
$1,075.00.
$1,112.50 or $1075.00, depending upon whether LCM is applied to individual items or the inventory as a whole.
$1,112.50.
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Solution Summary
The solution calculates the total value of this company's ending inventory.
Solution Preview
Part A = 50*4.50 = 225
Part B = 75*6 = 450
Part C = 160*2.50 = 400
Total = ...
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