Basic inventory data for june are presented

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Reference no: EM13953369

Basic inventory data for June are presented below for a business that employs the lower of cost or market basis of inventory valuation.

Item Inv Qty Unit Cost price

A	30	$62.00	65.00
B	12	144.00	144.00
C	45	105.00	101.00
D	36	64.00	57.00

item, inventory qty, unit cost price, unit market price, cost market price, cost, market , lower of cost or market

Columuns: Cost, Market, Lower of cost or market should be filled in.

A. Complete the table.

B. Determine the amount of reduction in the inventory at June 30 attributable to market decline.

Reference no: EM13953369

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