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Lower-of-Cost-or-Market Inventory On the basis of the following data, determine the value of the inventory at the lower of cost or market. Total Product Inventory
Lower-of-Cost-or-Market Inventory
On the basis of the following data, determine the value of the inventory at the lower of cost or market.
Total
Product
Inventory Quantity
Cost per Unit
Market Value per
Unit (Net Realizable Value)
Cost
Market
LCM
Adams
100
$140
$125
$
$
$
Coolidge
375
90
112
McKinley
220
60
59
Garfield
900
120
115
Lincoln
626
140
145
Total
$
$
$
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Auditor Going Concern Reporting A Review Of Global Research And Future Research Opportunities
Authors: Marshall A. Geiger, Anna Gold, Philip Wallage
1st Edition
0367649489, 978-0367649487
