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Determine the value of the inventory at the lower of cost

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Reference no: EM132477142

Lower-of-Cost-or-Market Method

On the basis of the data shown below:

Item - Inventory Quantity - Cost per Unit - Market Value per Unit (Net Realizable Value)

MX62 -    142                           $45                   $42

VZ31      291                             22                     27

Question 1: Determine the value of the inventory at the lower of cost or market by applying lower of cost or market to each inventory item

Reference no: EM132477142

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