Fenton Company applied FIFO

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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.   
    • 13 years ago
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