Basic inventory data for Save Mart Company as of June 30 are presented below:

Assume Save Mart Company applies the Lower of Cost or Net Realizable Value rule for the inventory by major category, determine the amount of inventory adjustment at the end of the year.
A) $130
B) $230
C) $360
D) $100

Question

Basic inventory data for Save Mart Company as of June 30 are presented below:
 
Assume Save Mart Company applies the Lower of Cost or Net Realizable Value rule for the inventory by major category, determine the amount of inventory adjustment at the end of the year.
A) $130 
B) $230 
C) $360 
D) $100

Quizplus · Accepted Answer

The Answer of Basic inventory data for Save Mart Company as of June 30 are presented below:
 
Assume Save Mart Company applies the Lower of Cost or Net Realizable Value rule for the inventory by major category, determine the amount of inventory adjustment at the end of the year.
A) $130 
B) $230 
C) $360 
D) $100

Basic Inventory Data for Save Mart Company as of June