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Question 2 of 3 -13 Current Attempt in Progress The December 31, 2020 inventory of Ivanhoe Company consisted of four products for which certain information
Question 2 of 3 -13 Current Attempt in Progress The December 31, 2020 inventory of Ivanhoe Company consisted of four products for which certain information is provided below. Product B D Original Cost $26.00 $44.00 $130.00 $21.00 Replacement Cost $24.00 $42.00 $125.00 $14.50 Estimated Disposal Cost $7.50 $9.00 $21.00 $4.00 Expected Selling Price $50.00 $53.00 $190.00 $30.00 Normal Profit on Sales 30.00% 20.00% 30.00% 20.00% Using the lower-of-cost-or- market approach applied on an individual-item basis, compute the inventory valuation that should be reported for each product on December 31, 2020. (Round answers to 2 decimal places, eg. 52.75.) Product A $ B $ $ D $ Save for Later Attempts: 0 of 3 used Submit Answer O IT CH 100%
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