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E6-18 Lower-of-cost-or-market inventory Obj|8 LCM: $22,780 On the basis of the following data, determine...

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Accounting

E6-18 Lower-of-cost-or-market inventory Obj|8 LCM: $22,780 On the basis of the following data, determine the value of the inventory at the lower of cost or market. Assemble the data in the form illustrated in Exhibit 9. Commodity Inventory Quantity Unit Cost Price Unit Market Price Buffal 35 $115 $120 Dakota 67 90 75 Frontier 8 300 280 Midwest 83 40 30 Rainbow 100 90 94

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