Lower-of-Cost-or-Market Inventory On the basis of the following data, determine the value of the inventory at the lower of cost or market. Total Product Inventory Quantity Cost per Unit Market Value per Unit (Net Realizable Value) Cost Market LCM Adams 26 $295 $304 $ $ $ Coolidge 37 137 130 McKinley 38 263 280 Garfield 42 186 175 Lincoln 14 69 62 Total $ $ $

Garcia industries has sales of $200,000 and accounts receivable of $18,500, and it gives its customers 25 days to pay. the industry average dso is 27 days, based on a 365-day year. if the company changes its credit and collection policy sufficiently to cause its dso to fall to the industry average, and if it earns 8.0% on any cash freed-up by this change, how would that affect its net income, assuming other things are held constant? a. $241.45b. $254.16c. $267.54d. $281.62e. $296.44