Boyer Company applied FIFO to its inventory and got the following results for its ending inventory. 
The cost of purchasing units at year-end was VCRs $71, DVD players $72, and iPods $78.
Instructions
Determine the amount of ending inventory at lower-of-cost-or-net realizable value.
Definitions:
Project Rejection
The process of declining to move forward with a project after evaluating its feasibility, risks, and potential returns.
Operating Asset
An asset used in the daily operations of a business that contributes to generating income.
Plant Expansion
The process of increasing the capacity or capability of an existing manufacturing or production facility.
Return On Investment
measures the gain or loss generated on an investment relative to the amount of money invested, indicating the efficiency of the investment.
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