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42. Isaac Company has accumulated the following information about its inventories in applying the lower...

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Accounting

42. Isaac Company has accumulated the following information about its inventories in applying the lower of cost or market (LCM) rule for valuing inventories: Product Cost Market A $55,000 $60,000 B 40,000 38,000 C 80,000 81,000 If Isaac applies the lower of cost or market rule, the value of the inventory reported on the balance sheet would be _________________________

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