Using data in E6-18, indicate the effects of valuing inventory using lower of cost or market on
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Using data in E6-18, indicate the effects of valuing inventory using lower of cost or market on the liquidity metric days’ sales in inventory and profitability metric return on sales.
Data Frome E6-18:
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.
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