Use the following diagram to solve the following problems.
-Refer to Price Per Unit. If the quantity of apartment is 1000, what is the supply price?
Definitions:
FIFO
"First-In, First-Out," an inventory valuation method where the cost of goods sold is based on the oldest inventory items.
Lower Of Cost
Lower of Cost or Market (LCM) is an accounting principle that values inventory at the lower of its historical cost or current market value.
Inventory Value
The total cost or market value of all the goods and materials held by a company for the purpose of resale or production.
Market Decline
A decrease in the overall value of a market, evidenced by falling asset prices and often associated with economic downturns.
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