I need some help with this please!?

Question

Tanzy Company's ending inventory includes the following items. Compute the lower of cost or market for ending inventory (a) as a whole and (b) applied separately to each product.

&nbs p; __Per Unit__

Product Units Cost Market

Helmets . . . . . . . . 22 $50 $54

Bats . . . . . . . . . . . 15 78 72

Shoes . . . . . . . . . . 36 95 91

Uniforms . . . . . . . 40 36 36

Answer 1

Helmets Cost $1,100 Market $1,188

Bats Cost $1,170 Market $1,080

Shoes Cost $3,420 Market $3,276

Uniforms Cost $1,440 Market $1,440

Total cost $7,130 Total market $6,984

Lower of cost or market

(a) as a whole : $6,984 since it's lower than cost of $7,130

(b) applied separately to each product

Take the lower of either the cost or market for each of the products above

Helmets Cost $1,100

Bats Market $1,080

Shoes Market $3,276

Uniforms Cost $1,440 (same as mkt, either one will do)

Total of above $6,896