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At the end of its taxation year, a business has two unsold items of inventory. Item A has a cost of $10,000 and a market
At the end of its taxation year, a business has two unsold items of inventory. Item A has a cost of $10,000 and a market value of $15,000. Item B has a cost of $7,000 and a market value of $4,000. For tax purposes, what valuation methods can be used to determine ending inventory? Determine these amounts based on the information provided.
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