The Following Information Concerns Several of the Inventory Items at DC's

question 13

Short Answer

The following information concerns several of the inventory items at DC's. $$\begin{array} { | c | c | c | c | } \hline \text { Description } & \text { Quantity } & \text { Unit Cost } & \text { Market Value } \\\hline \text { Department A: } & & & \\\hline \text { Model DC 225 } & 40 & \$ 16.90 & \$ 17.50 \\\hline \text { Model DC 364 } & 65 & 28.75 & 25.00 \\\hline \text { Model DC 513 } & 50 & 28.00 & 26.50 \\\hline \text { Department B: } & & & \\\hline \text { Model AR 137 } & 13 & 59.00 & 60.00 \\\hline \text { Model AR 226 } & 25 & 97.00 & 94.75 \\\hline \text { Model AR 196 } & 14 & 125.00 & 122.50 \\\hline\end{array}$$ Determine the amount of inventory to be reported on the financial statements using the lower of cost or market method of valuation under each of the following options.
1. Lower of cost or market for each item separately
2. Lower of total cost or total market
3. Lower of total cost or total market by department

---

Definitions:

Personal Injury

Physical or emotional harm to an individual resulting from someone else's negligence or wrongful act.

Orthopedic Rehabilitation

A therapy or program designed to help patients recover function after orthopedic surgery or injuries, focusing on strength, mobility, and pain relief.

Lifting And Positioning

Refers to the safe techniques used to move or adjust the position of patients in healthcare settings, ensuring comfort and reducing the risk of injury.

Back Injury

Physical damage to the back, which can result from strains, sprains, disc injuries, or fractures, often leading to pain and mobility issues.