An analysis of the inventory owned by Owens Company as of th…
An analysis of the inventory owned by Owens Company as of the Company’s fiscal closing date is shown in the following table. ItemQuantityCost Per UnitMarket Value Per UnitA300$30$27B100$50$55C200$44$40D120$25$30 Assuming Owens applies the lower-of-cost-or-market rule on an individual basis, the Company would be required to recognize an expense amounting to