Basic inventory data for April 30 are presented below for a business that employs the lower-of-cost-or-market basis of inventory valuation to each category. What is the amount of reduction in the inventory at April 30 attributable to market decline?
A)$14
B)$40
C)$180
D)$220

Question

Basic inventory data for April 30 are presented below for a business that employs the lower-of-cost-or-market basis of inventory valuation to each category.  What is the amount of reduction in the inventory at April 30 attributable to market decline?
A)$14 
B)$40 
C)$180 
D)$220

Quizplus · Accepted Answer

The Answer of Basic inventory data for April 30 are presented below for a business that employs the lower-of-cost-or-market basis of inventory valuation to each category.  What is the amount of reduction in the inventory at April 30 attributable to market decline?
A)$14 
B)$40 
C)$180 
D)$220

Basic Inventory Data for April 30 Are Presented Below for a Business