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Wert Company is preparing the annual financial statements. Information about inventory is as follows: Quantity Unit Cost Replacement Cost Item on Hand When Acquired (market)
Wert Company is preparing the annual financial statements. Information about inventory is as follows:
Quantity Unit Cost Replacement Cost
Item on Hand When Acquired (market) at year end
A 50 $20 $18 B 100 45 43 C 20 60 62 D 40 40 40
Compute the valuation for the December 31 inventory using the Lower of Cost or Net Realizable Value.
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