The Vogelson Company accumulates the following cost and market value data at December 31. Market Inventory Categories ‾ Cost Data ‾ Value Data ‾ Camera $ 11 , 000 $ 9 , 900 Camcorders 7 , 800 8 , 500 DVDs 14 , 000 12 , 000 \begin{array}{ccc} & & ext { Market }\ \underline{ ext { Inventory Categories } } & \underline{ ext { Cost Data } } & \underline{ ext { Value Data }}\ ext { Camera } & \$ 11,000 & \$ 9,900 \ ext { Camcorders } & 7,800 & 8,500 \ ext { DVDs } & 14,000 & 12,000\end{array} Inventory Categories Camera Camcorders DVDs Cost Data $11 , 000 7 , 800 14 , 000 Market Value Data $9 , 900 8 , 500 12 , 000 What is the lower-of-cost-or-market of the inventory?

Question

The Vogelson Company accumulates the following cost and market value data at December 31.    Market   Inventory Categories  ‾  Cost Data  ‾  Value Data  ‾  Camera  $ 11 , 000 $ 9 , 900  Camcorders  7 , 800 8 , 500  DVDs  14 , 000 12 , 000 \begin{array}{ccc} & & 	ext { Market }\ \underline{	ext { Inventory Categories } } &  \underline{	ext { Cost Data } } &  \underline{	ext { Value Data }}\	ext { Camera }  &  \$ 11,000  &  \$ 9,900 \	ext { Camcorders }  &  7,800  &  8,500 \	ext { DVDs }  &  14,000  &  12,000\end{array}  Inventory Categories  ​  Camera   Camcorders   DVDs  ​  Cost Data  ​ $11 , 000 7 , 800 14 , 000 ​  Market   Value Data  ​ $9 , 900 8 , 500 12 , 000 ​ What is the lower-of-cost-or-market of the inventory?

mezhoura alliliche · Accepted Answer

Final Answer :   Market   Lower-of-cost-or-   Inventory Categories ‾  Cost Data  ‾  Value Data  ‾  market value  ‾  Camera  $ 11 , 000 $ 9 , 900 $ 9 , 900  Camcorders  7 , 800 8 , 500 7 , 800  DVDs  14 , 000 12 , 000 12 , 000 ‾ $ 29 , 700 ‾ \begin{array}{cccc} & & 	ext { Market } & 	ext { Lower-of-cost-or- }\ \underline{	ext { Inventory Categories}}  &  \underline{	ext { Cost Data }} & \underline{	ext { Value Data }}   & \underline{	ext {  market value }}\	ext { Camera }  &  \$ 11,000  &  \$ 9,900  &  \$ 9,900 \	ext { Camcorders }  &  7,800  &  8,500  &  7,800 \	ext { DVDs }  &  14,000  &  12,000  &  \underline{ 12,000} \ &   &   &  \underline{ \$ 29,700}\end{array}  Inventory Categories ​  Camera   Camcorders   DVDs  ​  Cost Data  ​ $11 , 000 7 , 800 14 , 000 ​  Market   Value Data  ​ $9 , 900 8 , 500 12 , 000 ​  Lower-of-cost-or-   market value  ​ $9 , 900 7 , 800 12 , 000 ​ $29 , 700 ​ ​

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