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Solve and explain. Moberg Company sells three different categories of tools (small, medium, and large). The cost and market value of its inventory of tools

Solve and explain.

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Moberg Company sells three different categories of tools (small, medium, and large). The cost and market value of its inventory of tools are as follows. Determine the value of the company's inventory under the lower-of-cost-or-market approach. The value of the company's inventory

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