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H . T . Tan Company is preparing the annual financial statements dated December 3 1 of the current year. Ending inventory information about the

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H.T. Tan Company is preparing the annual financial statements dated December 31 of the current year. Ending inventory information
about the five major items stocked for regular sale follows:
Required:
Compute the valuation that should be used for the current year ending inventory using lower of cost or net realizable value applied on
an item-by-item basis.
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