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Boulder, Inc. is computing its inventory at December 31, 2019. The following information relates to the five major inventory items regularly stocked for resale: Item
Boulder, Inc. is computing its inventory at December 31, 2019. The following information relates to the five major inventory items regularly stocked for resale:
Item | Quantity on Hand | Ending Inventory, December 31, 2019 Unit Cost when Acquired (FIFO) |
Net Realizable Value (Market) at December 31, 2019 |
A | 100 | $40 | $35 |
B | 150 | $50 | $52 |
C | 25 | $100 | $80 |
D | 300 | $60 | $62 |
E | 700 | $15 | $12 |
Using the lower of cost or net realizable value, compute the total the total inventory valuation at December 31, 2019. (number only, no need for $).
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