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2. Jackson Company had the following ending inventory costs: Product A B. Units on Hand 10 50 35 Unit Cost $ 5 8 10 Market

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2. Jackson Company had the following ending inventory costs: Product A B. Units on Hand 10 50 35 Unit Cost $ 5 8 10 Market Value $6 7 Required: (a) Calculate the lower of cost or market (LCM) value for the inventory as a whole. (b) Calculate the lower of cost or market (LCM) value for each itdividual item

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