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Raleigh Co. has the following products in its ending inventory. Compute the lower of cost or market total for inventory applied separately to each product.

Raleigh Co. has the following products in its ending inventory. Compute the lower of cost or market total for inventory applied separately to each product.

Product

Quantity

Cost per unit

Market per unit

Jelly

200

$1.70

2.15

Jam

145

$2.50

2.50

Marmalade

75

$2.65

2.45

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