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plz use excel 56 57 E2 58 Loft Co. reviewed its LIFO inventory values for proper pricing at year-end. The following summarizes two inventory items
plz use excel
56 57 E2 58 Loft Co. reviewed its LIFO inventory values for proper pricing at year-end. The following summarizes two inventory items examined for the lower of cost or market: 59 Inventory #1 Inventory #2 60 Original cost 210,000 400,000 61 Replacement cost 150,000 370,000 62 Net realizable value 240,000 410,000 63 Net realizable value less profit margin 208,000 405,000 64 65 What amount should Loft include in inventory at year-end, if it uses the total of the inventory to apply the lower of cost or marketStep by Step Solution
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