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Determine the balance sheet carrying value of slrs

SLR Corporation has 1,000 units of each of its two products in its year-end inventory. Per unit data for each of the products are as follows:

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Determine the balance sheet carrying value of SLR's inventory assuming that the LCM rule is applied to individual products. What is the before-tax income effect of the LCM adjustment?

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Accounting Basics: Determine the balance sheet carrying value of slrs

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Accounting Basics: Determine the balance sheet carrying value of slrs

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