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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

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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 in Exhibit 10. Market Value per Unit (Net Realizable Value) Item Inventory Quantity Cost per Unit JFW1 141 $25 $29 SAW9 272 13 10

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