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View Policies Current Attempt in Progress Sunland's Gift Shop uses a perpetual inventory system and the FIFO cost formula for valuing inventory. The company is

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Sunland's Gift Shop uses a perpetual inventory system and the FIFO cost formula for valuing inventory. The company is now in the process of comparing the cost of its inventory with its net realizable value. The following data are available at Sunland's Gift Shop's year end, December 31:
\table[[,Units,Unit Cost,\table[[Net Realizable Value],[per Unit]]],[Clothing,95,$8,$6
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