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This data is for selected inventory items at Deluxe Supply Company: ...

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Accounting

This data is for selected inventory items at Deluxe Supply Company:
Quantity Unit Cost Net Realizable Value
Printer Cartridges
Item 11956 $ 22.00 $ 22.50
Item 1206621.0019.50
Item 1219626.0025.00
Fax Machines
Item 2101889.0092.00
Item 21113195.00189.00
Item 21212228.00213.00
Required:
1. & 2. Determine the total amount to be reported as the inventory valuation at cost or net realizable value, whichever is lower, under lower of cost or net realizable value for each item separately and lower of total cost or total realizable value.
3. Determine the total amount to be reported as the inventory valuation at cost or net realizable value, whichever is lower, under lower of total cost or total net realizable value by group.
Analyze:
Which valuation method will yield the highest net income?

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