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A car dealership is analyzing the value of their inventory. The company currently has 10 cars costing $25,000 each. However, due to a new model

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A car dealership is analyzing the value of their inventory. The company currently has 10 cars costing $25,000 each. However, due to a new model releasing, the market value of each car is $21,500. Assume the company values their inventory at lower-of-cost-or-market (LCM). What amount will the company credit to Inventory

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