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A company reported the following data related to its ending inventory: Product Units Available Cost Market 849 100 $10 $11 842 75 16 14 847
A company reported the following data related to its ending inventory:
Product Units Available Cost Market
849 100 $10 $11
842 75 16 14
847 60 14 13
860 40 16 20
Calculate the lower-of-cost-or-market on the: (a) Inventory as a whole and (b) inventory applied separately to each product.
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