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Using the lower of cost or market, what should the total inventory value be for the following items: Item Inventory Quantity Cost per Unit Market
Using the lower of cost or market, what should the total inventory value be for the following items:
| Item | Inventory Quantity | Cost per Unit | Market Value per Unit | Total Cost Price | Total Market Price | Lower of Cost or Market |
| A | 212 | $9 | $11 | $1,908 | $2,332 | $fill in the blank 1 |
| B | 100 | $15 | $12 | $1,500 | $1,200 | $fill in the blank 2 |
| C | 63 | $26 | $29 | $1,638 | $1,827 | $fill in the blank 3 |
| $fill in the blank 4 |
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Auditing Concepts And Methods
Authors: McGraw-Hill
1st Edition
0074701266, 978-0074701263
