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company's normal selling price for its product is $27 per unit. However, due to market competition the selling price has fallen to $22 per unit.

company's normal selling price for its product is $27 per unit. However, due to market competition the selling price has fallen to $22 per unit. This company's Current Inventory consists of 270 units purchased at $23 per unit. Replacement cost has fallen to $20 per unit Calculate the value of this company's inventory at the ower of cost or market

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