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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
HT Tan Company is preparing the annual financial statements dated December 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 itembyitem basis.
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