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Suppose that Crane Corporation sells three different products. The following information is available on December 31: Inventory Item Units Cost per unit Net realizable
Suppose that Crane Corporation sells three different products. The following information is available on December 31: Inventory Item Units Cost per unit Net realizable value per unit X 290 $3.90 $3.50 Y 590 $2.00 $1.50 Z 1470 $3.00 $4.00 After applying the lower-of-cost-or-net-realizable-value rule to each item, what amount will be reported for ending inventory?
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Intermediate Accounting
Authors: Loren A Nikolai, D. Bazley and Jefferson P. Jones
10th Edition
324300980, 978-0324300987
