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Camping Gear, Inc. had 200 units of inventory on hand at the end of the year. These were recorded at a cost of $15 each

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Camping Gear, Inc. had 200 units of inventory on hand at the end of the year. These were recorded at a cost of $15 each using the last - in, first-out (LIFO) method. The current replacement cost is $12 per unit. The selling price charged by Camping Gear, Inc. for each finished product is $18. As a result of recording the adjusting entry as per the lower-of-cost-or-market rule, the gross profit will O A. decrease by $600 O B. decrease by $2,400 O c. increase by $600 D. increase by $2,400

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