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Niteco Company ended its fiscal year with inventory recorded at its cost of $10,000. Niteco believes it will be able to sell the inventory for

Niteco Company ended its fiscal year with inventory recorded at its cost of $10,000. Niteco believes it will be able to sell the inventory for approximately $12,000. Due to changes in the market, Niteco would be able to replace this inventory for $9,000. How much should Niteco show for inventory on its yearminusend balance sheet?

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