fenton company applied fifo 497114

Aug 29, 2021 | Uncategorized

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.