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Any help? 1) 2) 3) Marigold Corp. developed the following information about its inventories in applying the lower of cost or market (LCM) basis in
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Marigold Corp. developed the following information about its inventories in applying the lower of cost or market (LCM) basis in valuing inventories: Product Cost $89000 62000 125000 Market $94000 59000 126000 If Marigold applies the LCM basis, the value of the inventory reported on the balance sheet would be Wildhorse Co. sells six different products. The following information is available on December 31: Inventory item Units Tin 20 Titanium Stainless steel Aluminum Iron Fiberglass 85 85 Cost per unit Market value per unit $540 $545 5400 5350 2160 2060 380 430 440 320 320 Estimated selling price $555 5510 2140 315 460 320 310 When applying the lower of cost or market rule to each item, what will Wildhorse total ending inventory balance be? The following information was available for Pharoah Company at December 31, 2017: beginning inventory $70000; ending inventory $102000; cost of goods sold $624000; and sales $816000. Pharoah inventory turnover ratio in 2017 wasStep by Step Solution
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