Lower of cost or market |
||||||
Quantity in Inventory |
Cost |
Market |
||||
Bike – Model A4467 |
10 |
120 |
1,100 |
|||
Bike – Model A4468 |
1,680 |
|||||
Bike – Model A4469 |
16 |
190 |
2,560 |
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What is the total cost of inventory under LCM? |