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Crane Company sells three different categories of tools (small, medium and largel. The cost and net realizable value of its inventory of tools are as

Crane Company sells three different categories of tools (small, medium and largel. The cost and net realizable value of its inventory of tools are as follows. Cost Net Realizable Value Small $70.180 $57,670 Medium 261,420 254,930 Large 143,390 151,610 Determine the value of the company's inventory under the lower-of-cost-or-net realizable value approach The total inventory value $

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