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Question - Lower-of-Cost-or-Market Method - On the basis of the following data, determine the value of the inventory at the lower-of-cost-or-market by applying lower-of-cost-or-market to each inventory item.
Item
Inventory Quantity
Cost per Unit
Market Value per Unit (Net Realizable Value)
JFW1
6,330
$10
$11
SAW9
1,140
36
34
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