tailspin trading co has the following products in its ending inventory compute lower 645480

1. A car dealer acquires a used car for $3,000, terms FOB shipping point. Additional costs in obtaining and offering the car for sale include $150 for transportation in, $200 for import duties, $50 for insurance during shipment, $25 for advertising, and $250 for sales staff salaries. For computing inventory, what cost is assigned to the used car?

2. Tailspin Trading Co. has the following products in its ending inventory. Compute lower of cost or market for inventory applied separately to each product.