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A company's normal selling price for its product is $27 per unit. However, due to market competnion, the selling price has fallen to $22 per

A company's normal selling price for its product is $27 per unit. However, due to market competnion, the selling price has fallen to $22 per unit. This company's current inventory consi of 130 units purchased at $23 per unit. Replacement cost has fal llen to $20 per unit Calculate the value of this compony's Inventory ot the lower of cost or market

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