Kizspy Question: 13
(Choose 1 answer)
A company's inventory consists of the following items: Item X: Cost $20, Market $18; Item Y: Cost $25,
Market $27; Item Z: Cost $30, Market $28. Using the lower of cost or market method, calculate the value of
inventory for financial statement purposes.
A. $70
B. $72
C. $71
D. $77
E. $80
