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What is the correct inventory value

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Reference no: EM133140435

Question - Inventory Write-Down - The following information for Tuell Company is available:

Case

1

2

3

4

5

Cost

$5.00

$5.00

$5.00

$5.00

$5.00

Net realizable value

5.10

5.50

4.80

4.30

4.75

Net realizable value less normal profit

4.80

5.40

4.70

4.00

4.60

Replacement cost

5.30

5.30

4.60

4.15

4.80

Required - Assume Tuell uses the LIFO cost flow assumption. What is the correct inventory value in each of the preceding situations under U.S. GAAP?

Reference no: EM133140435

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