The following data refer to Cambridge Company's ending inventory:
How much is the inventory if the lower of cost or market rule is applied to each item of inventory?
A) $250,000
B) $252,640
C) $265,440
D) None of the above

Question

The following data refer to Cambridge Company's ending inventory:
 How much is the inventory if the lower of cost or market rule is applied to each item of inventory?
A) $250,000 
B) $252,640 
C) $265,440 
D) None of the above

Quizplus · Accepted Answer

(120 x $228) + (420 x $152) + (610 x $168) + (220 x $256) = $250,000

The Following Data Refer to Cambridge Company's Ending Inventory