Ending Inventory Calculation for each product & as a whole.
Tanzy Company\'s ending inventory includes the following items. Compute the lower cost or market for ending inventory a) as a whole and b) applied separately to each product.
Hint: b) $6,896
|
Product
|
Units
|
Cost
|
Market
|
|
Helmets
|
22
|
$50
|
$54
|
|
Bats
|
15
|
78
|
72
|
|
Shoes
|
36
|
95
|
91
|
|
Uniforms
|
40
|
36
|
36
|