A Company Has the Following Per Unit Original Costs and Replacement

question 3

Multiple Choice

A company has the following per unit original costs and replacement costs for its inventory.LCM is applied to individual items. 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:

• A)$1,180.00.
• B)$1,075.00.
• C)$1,112.50.
• D)$1,217.50.
• E)$1,137.50.

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Definitions:

Needs Cluster

A group of needs that are related or similar, often used in psychology to understand complex human motivations.

Needs Categories

The classification of human necessities and desires into a hierarchy or specific groupings, such as Maslow's hierarchy of needs.

ERG Theory

A motivational theory developed by Clayton Alderfer that outlines three core human needs: Existence, Relatedness, and Growth.

Maslow's Needs

Maslow's Needs represent a hierarchy of human needs proposed by Abraham Maslow, which posits that people are motivated by unsatisfied needs, and certain lower needs need to be satisfied before higher needs can be addressed.