Find the Value of the Following Inventory for TV City

question 71

Multiple Choice

Find the value of the following inventory for TV City Inc. using the lower-of-cost-or-market rule. $$\begin{array} { l l l l l l } \text { Item } & \text { Quantity } & \text { Cost } & \text { Market } & \text { Basis } & \text { Amount } \\\text { Portables } & 202 & \$ 2,611 & \$ 2,684 & & \\\text { Combo HD Players } & 203 & 1,784 & 1,682 & \\\text { Projection } & 318 & 1,356 & 1,212 & \\\text { High-definition } & 216 & 1,339 & 1,157 & \\\text { Plasma } & 360 & 1,416 & 936 & \\\hline\end{array}$$

• A) $1,841,156
• B) $2,224,339
• C) $3,563,997
• D) $1,212,367

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Definitions:

Employees' Performance

An assessment of how effectively and efficiently an employee completes their job duties and achieves set objectives.

Empower Employees

The practice of giving employees the authority, tools, and information they need to make decisions and contribute to the company's success.

Work Design

The process of defining roles, tasks, and systems to optimize employee performance and well-being.

HRM Audit

A formal review of the outcomes of HRM functions, based on identifying key HRM functions and measures of business performance.