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Data related to the inventories of Kimzey Medical Supply are presented below: Surgical Equipment Surgical Supplies Rehab Equipment Rehab. Supplies Selling price $275 $135
Data related to the inventories of Kimzey Medical Supply are presented below: Surgical Equipment Surgical Supplies Rehab Equipment Rehab. Supplies Selling price $275 $135 $355 $180 Cost 185 105 265 177 Replacement cost 255 95 250 173 Costs to sell 36 8 40 16 Normal gross profit ratio 30% 30% 30% 20% In applying the lower of cost or market rule, the inventory of rehab equipment would be valued at:
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College Accounting
Authors: Tracie Nobles, Cathy Scott, Douglas McQuaig, Patricia Bille
11th edition
978-1111528300, 1111528128, 1111528306, 978-1111528126
