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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 | 200 | $9 | $12 | $1,800 | $2,400 | $fill in the blank 1 |
| B | 85 | $18 | $16 | $1,530 | $1,360 | $fill in the blank 2 |
| C | 39 | $24 | $27 | $936 | $1,053 | $fill in the blank 3 |
| $fill in the blank 4 |
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ISE Managerial Accounting For Manager
Authors: Eric Noreen, Peter C. Brewer, Ray H. Garrison
6th Edition
1265118434, 9781265118433
