On the basis of the data shown below: Item Inventory Quantity Unit...
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Accounting
On the basis of the data shown below:
Item
Inventory Quantity
Unit Cost Price
Unit Market Price
Raven 10
1,200
$115
$112
Dove 23
6,500
17
22
Determine the value of the inventory at the lower-of-cost-or-market. (Note: Apply lower-of-cost-or-market to each inventory item, as shown in Exhibit 10.)
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