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

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

 

Cameras      100             units at a cost per unit of     $68

DVD 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 $70, DVD players $69, and iPods $78.

 

 

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

    • 7 years ago
    Fenton Company _correct w/ Solutions ! Use it as a GUIDE
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