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The following information are relating to the inventories of a company, taken on December 31, 2020. The company follows LCM rule in valuing its
The following information are relating to the inventories of a company, taken on December 31, 2020. The company follows LCM rule in valuing its inventory. Inventory Cost (OMR) Market value Total (OMR) 180,000 150,000 130,000 140,000 310,000 290,000 Based on the above information, answer the following questions. 1. How much is the value of Inventory-X on December 31, 2020? ANSWER: 2. How much is the value of Inventory-Y on December 31, 2020? ANSWER:
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Forensic Accounting and Fraud Examination
Authors: William Hopwood, george young, Jay Leiner
2nd edition
978-007813666, 78136660, 978-0078136665
