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A company had the following ending inventory costs: Product Units of Hand Unit Cost Market Value A 10 $5 $6 B 50 8 7 C
A company had the following ending inventory costs:
| Product | Units of Hand | Unit Cost | Market Value |
| A | 10 | $5 | $6 |
| B | 50 | 8 | 7 |
| C | 35 | 10 | 11 |
Required:
Calculate the lower of cost or market (LCM) value for each individual item.
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Cornerstones of Managerial Accounting
Authors: Mowen, Hansen, Heitger
3rd Edition
324660138, 978-0324660135
