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Can someone help me? 1) 2) 3) Marigold Corp. developed the following information about its inventories in applying the lower of cost or market (LCM)
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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 A Cost Market $89000 $94000 62000 59000 125000 126000 C 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 Tin Titanium Stainless steel Aluminum Iron Fiberglass Units Cost per unit Market value per unit 65 $540 $545 205400 5350 2160 2060 85 380 310 430 440 320 320 Estimated selling price $555 5510 2140 315 460 320 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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