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Determine the value of the inventory at the lower of cost or market, assuming LCM is applied to each class. Market Value per Unit (Net

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Determine the value of the inventory at the lower of cost or market, assuming LCM is applied to each class. Market Value per Unit (Net Realizable Value) Item Inventory Quantity Cost per Unit Class 1 Bay Palomino Subtotal Class 2 Chestnut Pinto Subtotal a. $463 b. $455 c. $634 d. $467

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