On the Basis of the Following Data, What Is the Value

question 10

Multiple Choice

On the basis of the following data, what is the value of the total inventory at the lower of cost or market. Apply lower of cost or market to each inventory item. $$\begin{array} { | l | c | c | c | } \hline \text { Item } & \text { Inventory Quantity } & \text { Unit Cost Price } & \text { Unit Market Price } \\\hline \text {product C } & 300 & \$ 6 & \$ 5 \\\hline \text { product D } & 420 & 12 & 14 \\\hline\end{array}$$

• A) $7,380
• B) $6,840
• C) $6,540
• D) $6,300

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Definitions:

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Obsession

Persistent, unwanted thoughts that cause distress or anxiety.

Compulsion

Repetitive and irrational behaviors or mental acts that an individual feels driven to perform, often associated with obsessive-compulsive disorder.