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Need help 37 Basic inventory data for June 30 are presented below for a business that employs the lower of cost or market basis of

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37 Basic inventory data for June 30 are presented below for a business that employs the lower of cost or market basis of inventory valuation. Total Lower of C or M Unit CostUnit Market Commodity Quantity Price s 58 245 Price s 55 250 85 Cost 20 10 20 30 53 (a) (b) Complete the table. Determine the amount of reduction in the inventory at June 30 attributable to market decline

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