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The historical cost of inventory is $1,000, the current replacement cost is $650, and the retail sales price has gone down from $2,000 to $1,500.
The historical cost of inventory is $1,000, the current replacement cost is $650, and the retail
sales price has gone down from $2,000 to $1,500. Using Lower of Cost or Realizable Value, the
inventory account balance will be:
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