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On the basis of the following data, 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
On the basis of the following data, 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 10.
Item | Inventory Quantity | Cost per Unit | Market Value per Unit (Net Realizable Value) |
JFW1 | 57 | $51 | $49 |
SAW9 | 117 | 25 | 27 |
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