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 Exhibit9.

Inventory Unit Unit ltem Quanity Cost Price Market Price 1107B 110M 450 75 $80 60 $78 64

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