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Data related to the inventories of Kimzey Medical Supply are presented below: Surgical Surgical Equipment Supplies Selling price $305 $165 215 135 Cost Replacement cost
Data related to the inventories of Kimzey Medical Supply are presented below: Surgical Surgical Equipment Supplies Selling price $305 $165 215 135 Cost Replacement cost 285 125 48 14 Costs to sell Normal gross profit ratio 30% 30% In applying the lower of cost or market rule, the inventory of surgical supplies would be valued at
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