Lower-of-Cost-or-Market Method On the basis of the data shown below: Inventory Item Quantity 1A17154 Cost per...

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Lower-of-Cost-or-Market Method On the basis of the data shown below: Inventory Item Quantity 1A17154 Cost per Unit Market Val

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Answer 1

Answer #1

Value of inventory =Value of item 1+ Value of item 2

Value of inventory =(154*44)+(293*24)

Value of inventory =13808

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Answer 2

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