Using the Lower-Of-Cost-Or-Market Method of Inventory Valuation, What Should the Total

question 82

Essay

Using the lower-of-cost-or-market method of inventory valuation, what should the total inventory value be for the following items:
$\begin{array}{|l|l|l|l|l|l|}\hline \text { Item }& \text { Total market price } & \text { Total cost price } & \text { Unit market price } & \text { Unit cost price } & \text { Inventory Quantity } \\\hline \text { A }&900 & \$ 1,000 & \$ 4.50 & \$ 5 & 200 \\\hline\text { B } & 500 & 400 & 5.00 & 4 & 100 \\\hline \text { C } &325 & 350 & 5.50 & 7 & 50 \\\hline\end{array}$

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