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Determine the value of the company inventory

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Question - Blank Company sells three different categories of tools (small, medium and large). The cost and market value of its inventory of tools are as follows.

Cost Market

Small $65,088 $74,241 

Medium 294,930 264,420 

Large 154,584 173,907 

Determine the value of the company's inventory under the lower-of-cost-or-market approach.

Reference no: EM131772281

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