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Masume that you have been asked to restate the financial statements to incorporate the LCSNAV, You hove developes the following data retating to the ending

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Masume that you have been asked to restate the financial statements to incorporate the LCSNAV, You hove developes the following data retating to the ending inventory: Hequired: Required: 1. Pestate the income statement to refiect the LCSNRV rule of the ending livientory 1.b. Apply the lower of cost and net resizable value on an item by-tiem basis and show computations

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