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Item D-I please and thank you:) Marigold Company uses the lower-of-cost-or-market method, on an individual-item basis, in pricing its inventory items. The inventory at December
Item D-I please and thank you:)
Marigold Company uses the lower-of-cost-or-market method, on an individual-item basis, in pricing its inventory items. The inventory at December 31, 2017 consists of products D, E, F, G, H, and I. Relevant per-unit data for these products appear below. Item D $252 Item F Item G Item 1 Item E $231 Item H $231 $200 $189 $189 158 168 168 168 105 76 Estimated selling price Cost Replacement cost Estimated selling expense Normal profit 252 151 147 63 147 63 63 63 63 53 63 63 42 42 42 42 42 42 Using the lower-of-cost-or-market rule, determine the proper unit value for balance sheet reporting purposes at December 31, 2017 for each of the inventory items above. Item D $ Item E $ Item F $ Item G $ Item $ Step by Step Solution
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