On the basis of the following data, determine the value of the inventory at the lower of
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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 8.
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Inventory Quantity Market Value per Unit (Net Realizable Value) Product Cost per Unit Adams 100 $140 $125 Coolidge 375 90 112 McKinley 220 60 59 Garfield 900 120 115 Lincoln 626 140 145
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