Lower of cost and net realizable value

Units Unit Cost Net realizable value

Cameras
Minolta 8 170,000 156,000
Canon 6 150,000 152,000
Light meters
Vivitar 12 125,000 115,000
Kodak 14 115,000 135,000

Total inventory
Lower of cost and net realizable value

1,248,000
900,000

1,380,000
1,610,000

5,138,000
 FIFO
Date Purchase COGS
1-Jun
12 300 units @ 6 1800

15 200 @ 5
200 @ 6 2200
23 500 @ 7 3500

27 100 @6
340 @ 7 2980
30 Ending inventory

Moving average

Date Purchase COGS

1-Jun
12 300 units @ 6 1800
15 400 @ 5.6 2240
23 500 units @ 7 3500
27 440 @ 6.77 2978.8
 Balance
200 @ 5 1000
200 @ 5
300 @ 6 2800

100 @ 6 600
100 @ 6
500 @ 7 4100

160 @ 7 1120
160 @ 7 1120

Balance 5.6
200 @ 5 1000 6.766667
500 @ 5.6 2800
100 @ 5.6 560
600 @ 6.77 4060
160 @ 6.77 1081.2