Question: On the basis of the following data, determine the value of the inventory at the lower of cost or market. Apply lower of cost or

On the basis of the following data, determine the value of the inventory at the lower of cost or market. Apply lower of cost or market to each inventory item as shown in Exhibit8.

Inventory Quantity 400 350 Unit Unit Cost Price Market Price $ 5 14 Item Alpha Beta $ 6 12

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