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Sarahs nursery uses LIFO cost flow assumptions and has developed the following data for its products. The indivisual types of flowers are seperated to their

Sarahs nursery uses LIFO cost flow assumptions and has developed the following data for its products. The indivisual types of flowers are seperated to their catagories

Selling price

cost

Cost to replace

Small flowers

rose

$1,800

$1,000

$800

tulip

2,200

1,600

1,400

Selling price

cost

Cost to replace

large flowers

daises

$2,500

$1,750

$1,800

orchids

3,600

3,350

3,200

Selling price

cost

Cost to replace

medium flowers

lilies

$1,800

$1,400

$1,300

gardinias

2,300

1,800

1,700

The cost to sell are 10% of the selling price, and the normal profit margin on all flowers is 20% of the selling price

A: what is the reported inventory value assuming the lower of cost or market rule is applied to individual flower products.

B: what is the reported inventory value assuming the lower of cost or market rule is applied to categories of flowers

C: what is the reported inventory value assuming the lower of cost or market rule is applied to the total inventory

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