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LO 8.1 Brown Company has the following information available regarding each unit of its inventory: Selling price $5,200 Costs of completion 250 Current replacement cost

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LO 8.1 Brown Company has the following information available regarding each unit of its inventory: Selling price $5,200 Costs of completion 250 Current replacement cost 5,000 Normal profit margin 2,400 Determine (a) the net realizable value under the LCNRV rule and (b) the amount that should be used as the market value under the LCM rule

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