Question
Pluto Metals Inc. has the following amount totals (i.e., units are already multiplied by_per unit amounts), for each of their two canning metal products
Pluto Metals Inc. has the following amount totals (i.e., units are already multiplied by_per unit amounts), for each of their two canning metal products on December 31. (total amount) Tin Replacement cost $25,200 $28,900 Normal profit $500 $1,900 Historical cost NRV $22,700 $33,100 $23,600 $33,400 Aluminum Determine the Lower-of-cost-or-market total inventory balance assuming an individual inventory-level as of December 31. Please put your answer in bold font. To receive credit, you must show your work (including your numerical comparisons).
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Financial Accounting An Introduction to Concepts, Methods and Uses
Authors: Roman L. Weil, Katherine Schipper, Jennifer Francis
14th edition
978-1111823450, 1-133-36617-1 , 1111823456, 978-1-133-3661, 978-1133591023
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