How much is the loss on inventory

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Problem - Plentiful Corporation has two products in its ending inventory, each accounted for at the lower of cost or net realizable value. Specific data with respect to each product follows:

 

Product X

Product Y

No. of units

50,000

45,000

Historical cost

P10

P18

Replacement cost

11

14

Estimated cost to dispose

3

7

Estimated selling price

15

22

Required - How much is the loss on inventory write down to be reported by Plentiful Corporation?

Reference no: EM132805926

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