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Using the lower of cost or market, what should the total inventory value be for the following items: Item Unit Cost Unit Market Total Cost
Using the lower of cost or market, what should the total inventory value be for the following items: Item Unit Cost Unit Market Total Cost Price Price Price Quantity Total Market Price Lower of Cost or Market A 197 $7 $11 $1,379 $2,167 B 77 $15 $13 $1,155 $1,001 39 $26 $28 $1,014 $1,092
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