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Problem - Applying LCM to inventories

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Problem - Applying LCM to inventories

Ames Trading Co. has the following products in its ending inventory.

Product

Quantity

Cost per Unit

Market per unit

Mountain bikes

29

$790

$710

Skateboards

11

340

390

Gliders

260

960

910

Required - Compute lower of cost or market for inventory applied separately to each product.

Reference no: EM132485473

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