contestada

Powder Ski Shop reports inventory using lower-of-cost-or-market. Below is information related to its year-end inventory. Inventory Quantity Cost Market Ski jackets 10 $ 117 $ 97 Skis 15 320 370 Calculate the amount to be reported for ending inventory.

Respuesta :

Answer:

$5,770

Explanation:

The computation of ending inventory is shown below:-

Inventory        Quantity     Lower of cost               Ending inventory

                                          Net realizable value

Ski Jackets        10               $97                               $970

Skis                    15                $320                            $4,800

                                              Total                             $5,770