Basic Inventory Data for April 30 Are Presented Below for a Business

question 178

Multiple Choice

Basic inventory data for April 30 are presented below for a business that employs the lower-of-cost-or-market basis of inventory valuation to each category. $$\begin{array} { | c | c | r | r | } \hline \text { Commodity } & \begin{array} { c } \text { Inventory } \\\text { Quantity }\end{array} & \text { Cost per Unit } &{ \begin{array} { c } \text { Market Value } \\\text { per Unit }\end{array} } \\\hline \text { A } & 35 & \$ 52 & \$ 55 \\\hline \text { B } & 20 & 155 & 150 \\\hline \text { C } & 25 & 82 & 85 \\\hline \text { D } & 40 & 58 & 55 \\\hline\end{array}$$ What is the amount of reduction in the inventory at April 30 attributable to market decline?

• A) $14
• B) $40
• C) $180
• D) $220

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