martinez companys ending inventory includes the following items. compute the lower of cost or market for…

martinez companys ending inventory includes the following items. compute the lower of cost or market for ending inventory applied separately to each product.\nproduct units cost per unit market per unit\nuniforms 55 $41 $41\nshoes 51 $96 $100\nbats 30 $77 $83\nhelmets 37 $59 $55\ninventory items\nunits\ncost per unit\nmarket\ntotal cost\ntotal market\nlcm applied to items

martinez companys ending inventory includes the following items. compute the lower of cost or market for ending inventory applied separately to each product.\nproduct units cost per unit market per unit\nuniforms 55 $41 $41\nshoes 51 $96 $100\nbats 30 $77 $83\nhelmets 37 $59 $55\ninventory items\nunits\ncost per unit\nmarket\ntotal cost\ntotal market\nlcm applied to items

Answer

Explanation:

Step1: Calculate cost - market for uniforms

For uniforms, cost per unit = $41$, market per unit = $41$. Lower of cost or market per unit is $41$. Total for uniforms = $41\times55 = 2255$.

Step2: Calculate cost - market for shoes

For shoes, cost per unit = $96$, market per unit = $100$. Lower of cost or market per unit is $96$. Total for shoes = $96\times51 = 4896$.

Step3: Calculate cost - market for bats

For bats, cost per unit = $77$, market per unit = $83$. Lower of cost or market per unit is $77$. Total for bats = $77\times30 = 2310$.

Step4: Calculate cost - market for helmets

For helmets, cost per unit = $59$, market per unit = $55$. Lower of cost or market per unit is $55$. Total for helmets = $55\times37 = 2035$.

Step5: Calculate total inventory value

Total inventory value = $2255 + 4896+2310 + 2035=11496$.

Answer:

$11496$