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  3. a local chevrolet dealership carries the following

A local Chevrolet dealership carries the following types of vehicles: \table[[Inventory Items,Quantity,Unit Cost,Unit NRV],[Vans,2,$17,000,$15,000],[Trucks,5,16,000,15,000],[2-door...

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Accounting

A local Chevrolet dealership carries the following types of vehicles:
\table[[Inventory Items,Quantity,Unit Cost,Unit NRV],[Vans,2,$17,000,$15,000],[Trucks,5,16,000,15,000],[2-door sedans,1,11,000,13,000],[4-door sedans,6,15,000,18,000],[Sports cars,2,27,000,30,000],[Suvs,7,26,000,18,000]]
Because of recent increases in gasoline prices, the car dealership has noticed a reduced demand fo
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Required 4
Determine the financial statement effects of using lower of cost and net realizable value to report inventory. (Make sure to enter amounts leading with a minus sign.)
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