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Determine the net realizable value under the lcnrv rule

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Reference no: EM132883986

Problem - Brown Company has the following information available regarding each unit of its inventory:

Selling price $5,200

Costs of completion 250

Current replacement cost 5,000

Normal profit margin 2,400

Determine (a) the net realizable value under the LCNRV rule and (b) the amount that should be used as the market value under the LCM rule.

Reference no: EM132883986

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