Answered You can hire a professional tutor to get the answer.
Adrianna Lopez of success system is evaluating her inventory to determine whether it must be adjusted based on lower of cost or market rules.
Adrianna Lopez of success system is evaluating her inventory to determine whether it must be adjusted based on lower of cost or market rules.Lopez has three different types of software in her inventory and the following information is available for each. $74 cost $73 market100 cost 98 market90 market1. Compute the lower of cost or market for ending inventory assuming Lopez applies the lower of cost or market rule to inventory as a whole. Must Lopez adjust the reported inventory value? Explain. 2. Assume that Lopez had instead applied the lower of cost or market rule to each product in inventory. Under this assumption, must Lopez adjust the reported inventory value? Explain.
