Martinez Company's ending inventory includes the following items. Product Units Cost per Unit Market per Unit Helmets 24 $ 50 $ 54 Bats 17 78 72 Shoes 38 95 91 Uniforms 42 36 36 Compute the lower of cost or market for ending inventory applied separately to each product.

Answer and Explanation:

The computation of the lower of cost or market for ending inventory is given below:

Product         Units   Cost per Unit   Market per Unit Total cost T.market Lower

Helmets         24             $50            $ 54                     $1,200  $1,296   $1,200

Bats                17               78              72                        $1,326  $1,244   $1,244

Shoes            38              95               91                         $3,610  $3,458 $3,458

Uniforms        42              36              36                         $1,512   $1,512   $1,512

answer; the correct answer to the above statement is (true);

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