A company had the following ending inventory costs:ProductUnits of HandUnit CostMarket ValueA10$5$6B5087C351011Required:Calculate the lower of cost or market (LCM) value for each individual item.
What will be an ideal response?
| Product | Total Cost | Total Market | LCM |
| A | $50 | $60 | $50 |
| B | 400 | 350 | 350 |
| C | 350 | 385 | 350 |
| TOTAL | 800 | ? | $750 |
Business
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