Charapata Company applied FIFO to its inventory and got the following results for its ending inventory

Charapata Company applied FIFO to its inventory and got the following results for its ending inventory.

Cameras	100 units at a cost per unit of $65
Blu-ray players	150 units at a cost per unit of $75
iPods	125 units at a cost per unit of $80

The cost of purchasing units at year-end was cameras $71, Blu-ray players $67, and iPods $78.

Instructions

Determine the amount of the ending inventory at lower-of-cost-or-market

Solution

Charapata Company
Computation of LCM

Problems: Inventories

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Problem-23: Inventories

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Problem-24: Inventories

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Problem-28: Inventories

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Problem-31: Inventories

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Inventories

Problem-23: Inventories

Instructions

Solution

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