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Krisp Corporation regularly applies the lower-of-cost-or-market method for inventory valuation on an item-by- item basis. At the end of 2020, the following data is available

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Krisp Corporation regularly applies the lower-of-cost-or-market method for inventory valuation on an item-by- item basis. At the end of 2020, the following data is available for the 3 products which it sells: Product A B Cost $300 $450 $180 Market Price $270 $460 $160 What dollar amount should Krisp report for its ending inventory? SHOW YOUR CALCULATION

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