Data related to the inventories of Alpine Ski Equipment and Supplies is presented below: Selling...
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Accounting
Data related to the inventories of Alpine Ski Equipment and Supplies is presented below: Selling price Cost Replacement cost Sales commission Skis $174,000 138,000 130,000 10% Boots $153,000 138,000 128,000 10% Apparel $111,000 72,150 92,150 108 Supplies $73,000 51,100 47,100 108 In applying the lower of cost or net realizable value rule, the inventory of skis would be valued at
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