Question: The merchandise inventory would appear in the Current Assets section, as follows: Merchandise inventoryat lower of cost (FIFO) or market........... $10,320 Alternatively, the details of

The merchandise inventory would appear in the Current Assets section, as follows:


      Merchandise inventory—at lower of cost (FIFO) or market...........     $10,320


Alternatively, the details of the method of determining cost and the method of valuation could be presented in a note.

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