Lower of Cost or Market The accountant for Murphy Company prepared the following analysis of its inventory at year end: Item Units Cost per Unit Net Realizable Value RSK-89013 600 $38 $47 LKW-91247 420 47 40 QEC-57429 510 26 32 Required: 1. Compute the carrying value of the ending inventory using the lower of cost or market method applied on an item-by-item basis.

  $52,860

Explanation:

The computation of the ending inventory using the  lower of cost or market method is shown below:

Product                    Cost           Net realizable valueLower of cost or NRV

RSK-89013600 × $38 = $22,800600 × $47 = $28,800   $22,800

LKW-91247420 × $47 = $19,740     420 × $40 = $16,800        $16,800

QEC-57429  510 × $26 = $13,260    510 × $32 = $16,320         $13,260

Carrying value of the ending inventory is                                       $52,860

answer: a. the kind of population living in your neighbourhood.

the census explorer data tool by the us census bureau allows the user to zoom in on any neighbourhood within the united states and find the kind of people residing in that by race and age.  

the tool needs to needs to be used twice – once in order to find what type of people reside in a neighbourhood, and then to see the age groups of the people in the same neighbourhood.

answer; normative economics;