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Question - lower-of-cost-or-market inventory determine the

Question - Lower-of-Cost-or-Market Inventory

On the basis of the following data:

Commodity	Inventory Quantity	Unit Cost Price	Unit Market Price
AL65	17	$296	$283
CA22	21	281	279
LA98	25	109	114
SC16	17	267	252
UT28	14	289	303

Determine the value of the inventory at the lower of cost or market.

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Accounting Basics: Question - lower-of-cost-or-market inventory determine the

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