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Ambrosia Farm Inc. (ABI) owns several large apple orchards. Once harvested, the apples are considered agricultural inventory and can be held in cold storage for

Ambrosia Farm Inc. (ABI) owns several large apple orchards. Once harvested, the apples are considered agricultural inventory and can be held in cold storage for up to 10 months. How are the apples that have been harvested and stored subsequently measured, if ABI reports under ASPE and chooses not to use the net realizable value (NRV) model?

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