Acc557 Financial Accounting:E6-10 Fenton Company applied FIFO to its inventory

Acc557 Financial Accounting

E6-10
Fenton Company applied FIFO to its inventory and got the following results for its ending inventory.
Cameras 100 units at a cost per unit of $68
DVD players 150 units at a cost per unit of $75
iPods 125 units at a cost per unit of $80

The cost of purchasing units at year-end was cameras $70, DVD players $69, and iPods $78.

Determine the amount of ending inventory at lower-of-cost-or-market.
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