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Using the lower of cost or market, what should the total inventory value be for the following items: Item Quantity Unit Cost Price Unit Market
Using the lower of cost or market, what should the total inventory value be for the following items:
| Item | Quantity | Unit Cost Price | Unit Market Price | Total Cost Price | Total Market Price | Lower of Cost or Market |
| A | 203 | $7 | $11 | $1,421 | $2,233 | $ |
| B | 106 | 17 | 15 | 1,802 | 1,590 | |
| C | 31 | 20 | 23 | 620 | 713 | |
| $ |
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Accounting Ethics
Authors: Iris Stuart
1st Edition
1118542401, 9781118542408
