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Assume that on 12/31/2019 Mander Corp. has unfinished inventory with a (historical) cost of $950, a sales value of $1,000, estimated cost of completion of
Assume that on 12/31/2019 Mander Corp. has unfinished inventory with a (historical) cost of $950, a sales value of $1,000, estimated cost of completion of $50, and estimated selling costs of $200. Using the Lower-of-Cost-or-Net Realizable Value Rule, what is the value of inventory that should be included on the balance sheet of the firm on 12/31/2019? Show your calculation
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