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A company is analyzing its inventory and wants to apply the lower-of-cost-or-market rule to the value of its inventory given below: Inventory sales value $
A company is analyzing its inventory and wants to apply the lower-of-cost-or-market rule to the value of its inventory given below: Inventory sales value $ 120,000 Cost to complete for sale $ 15,000 Inventory costs $ 84,000 Replacement costs $ 82,000 Normal profit margin 30% Which inventory value should this company report for the period?
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