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Lower-of-Cost-or-Market Method On the basis of the data shown below: Item Inventory Quantity Cost per Unit Market Value per Unit (Net Realizable Value) IA17 145

Lower-of-Cost-or-Market Method

On the basis of the data shown below:

Item Inventory Quantity Cost per Unit Market Value per Unit (Net Realizable Value)
IA17 145 $54 $57
VZ31 290 26 22

Determine the value of the inventory at the lower of cost or market by applying lower of cost or market to each inventory item, as shown in Exhibit 9.

$

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