Nelson Corporation sells three different products. The following information is available on December 31: Ch6_Q150 When applying the lower of cost or market rule to each item, what will Nelson's total ending inventory balance be? $6,900 $6,450 $7,950 $6,600

$6,450

Explanation:

The computation of the ending inventory balance using the  lower of cost or market rule to each item is shown below:

Items  Cost         Market value         Lower cost          Units                 Cost

          per unit      per unit                   per unit        

X         $4               $3.50                   $3.50                 300                 $1,050

Y         $2               $1.50                    $1.50                  600                 $900

Z         $3                $4                        $3                       1,500              $4,500

Total ending inventory balance                                                          $6,450

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