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Redmond Inc. makes and sells skis. For each set of skis, the cost is $190, the selling price is $230, and the costs to sell/complete

Redmond Inc. makes and sells skis. For each set of skis, the cost is $190, the selling price is $230, and the costs to sell/complete are $35. At what value should the inventory of 120 pairs of skis be recorded on the balance sheet, assuming the Lower of Cost or Net Realizable Value (LCNRV) method is used? show calculations.

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