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Compute lower of cost or market for inventory

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Question - Ames Trading Co. has the following products in its ending inventory.

Product

Quantity

Cost per Unit

Market per unit

Mountain bikes

22

$550

$510

Skateboards

18

390

460

Gliders

13

750

680

Compute lower of cost or market for inventory applied separately to each product.

Reference no: EM131695773

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