Solution-Determine the value of the company inventory

Determine the value of the company inventory

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Reference no: EM13513241

Tracy Company sells three different types of home heating stoves (wood, gas, and pellet). The cost and market value of its inventory of stoves are as follows.

	Cost	Market
Gas	$ 84,000	$ 79,000
Wood	250,000	280,000
Pellet	112,000	101,000

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

Reference no: EM13513241

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Determine the value of the company inventory

Reference no: EM13513241

Reference no: EM13513241

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