Exercise 5-10 Lower of cost or market LO P2 Martinez Company's ending inventory includes the following items. Product Units Cost per Unit Market per Unit Helmets 27 $ 55 $ 59 Bats 20 83 77 Shoes 41 100 96 Uniforms 45 41 41 Compute the lower of cost or market for ending inventory applied separately to each product.

Martinez Company

Ending inventory is:

= $8,806.

Explanation:

a) Data and Calculations:

Product       Units   Cost per Unit   Market per Unit

Helmets       27             $ 55                   $ 59

Bats             20                 83                      77

Shoes           41               100                      96

Uniforms     45                 41                       41

Lower of cost or market value Valuation:

Product       Units   Cost per Unit   Market per Unit     LCM

Helmets       27             $ 55                   $ 59               $1,485

Bats             20                 83                      77                1,540

Shoes           41               100                      96               3,936

Uniforms     45                 41                       41                1,845

Total cost of ending inventory                                    $8,806

answer; consideration;

answer; measurable outcome;