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2. A company reported the following data related to its ending inventory: Product 849 842 847 860 Units Available 100 75 60 40 Cost $10

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2. A company reported the following data related to its ending inventory: Product 849 842 847 860 Units Available 100 75 60 40 Cost $10 16 14 16 Market $11 14 13 20 Calculate the lower-of-cost-or-market on the: (a) Inventory as a whole (b) Inventory applied separately to each product

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