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A merchandising concern paid $1,600,000 for inventory. The market value of the inventory is $1,200,000. The net realizable value of the inventory is $1,300,000. The

A merchandising concern paid $1,600,000 for inventory. The market value of the inventory is $1,200,000. The net realizable value of the inventory is $1,300,000. The company found a new supplier for similar inventory at $800,000. What appears on the balance sheet?

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