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Lower-of-Cost-or-Net Realizable Value Method The McQuenny Companys ending inventory is composed of 100 units that had an acquisition cost of $75 per unit and 50
Lower-of-Cost-or-Net Realizable Value Method The McQuenny Companys ending inventory is composed of 100 units that had an acquisition cost of $75 per unit and 50 units that had an acquisition cost of $80 per unit. If 150 units have an NRV of $77 per unit, what value should be assigned to the companys ending inventory assuming that it applies the lower-of-cost-or-net realizable value method on an individual item basis?
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