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A company's normal selling price for its product is $22 per unit. However due to market competition, the selling price has fallen to $17 per
A company's normal selling price for its product is $22 per unit. However due to market competition, the selling price has fallen to $17 per unit. This company's current FIFO inventory consists of 180 units purchased at $18 per unit. Net realizable value has fallen to $15 per unit. Calculate the value of this company's inventory at the lower of cost or market. Multiple Choice $2.700. $3.060. $2.800. O $2.650 $3.240
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