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Stiles Corporation uses the LIFO cost flow assumption and is in the process of applying the LCM rule for each of two products in its
Stiles Corporation uses the LIFO cost flow assumption and is in the process of applying the LCM rule for each of two products in its ending inventory. A profit margin of 30% on the selling price is considered normal for each product. Specific data for each product are as follows: Required: 1. What is the correct inventory value for each product? \begin{tabular}{ll|l} Product A & $ & X per unit \\ Product B & $ & per unit \end{tabular}
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