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2) Classify the following inventory items and designate the valuation method for each: net realizable value (NRV), lower of cost or market (LCM), or cost

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2) Classify the following inventory items and designate the valuation method for each: net realizable value (NRV), lower of cost or market (LCM), or cost (C). (Points: 20) Purchased seed for use Raised corn crop for sale Raised wheat crop Raised corn crop for use Raised hay for sale Raised feeder pigs Purchased feed pellets for use Raised oats for use Purchased feeder calves Purchased fuel

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