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(financial reporting) The following inventory information are related to ABC Manufacturing Company: Cost of inventory = $350 Selling price (unit) = $400 Completion Cost =

(financial reporting)

The following inventory information are related to ABC Manufacturing Company:

Cost of inventory = $350

Selling price (unit) = $400

Completion Cost = $20

Selling Cost = $7% of Selling Price

Required:

1. Calculate inventory Net Realizable Value

2. Which value is lower, Net Realizable or Cost

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