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What amount should be used as the market value

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Problem - Sienna Company uses the FIFO cost flow assumption. Sierra has inventory with a selling price of $100, packaging costs of $5, and transportation costs of $10. Sienna's normal profit margin is $20. However, due to limited supply of the product from the manufacturer, it would cost Sienna $80 to replace the inventory. What amount should be used as the market value?

Reference no: EM132883983

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