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5. Y Company is determining its balance sheet amount for ending inventory. The following data has been developed to calculate the value for its products.
5. Y Company is determining its balance sheet amount for ending inventory. The following data has been developed to calculate the value for its products. The individual products are listed below. The costs to sell are 5% of selling price. Normal profit margin is 10% of selling price. Required: Determine the reported inventory value.1 Under FIFO. 2. Under LIFO
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