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On the basis of the following data, determine the value of the inventory at the lower of cost or market. Assemble the data in the

On the basis of the following data, determine the value of the inventory at the lower of cost or market. Assemble the data in the form illustrated inExhibit 10.

Commodity

Inventory Quantity

Unit Cost Price

Unit Market Price

Ash 80 $140 $125
Aspen 120 90 112
Beech 30 75 74
Maple 75 88 86
Oak 60 140 145

Inventory at the Lower of Cost or Market
Commodity Total Cost Total Market Total Lower of C or M
Ash $?? $?? $??
Aspen $?? $?? $??
Beech $?? $?? $??
Maple $?? $?? $??
Oak $?? $?? $??
Total $?? $?? $??

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