#1 On the basis of the following data, determine the value of the inventory at the lower-of-cost-or-market...
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#1
On the basis of the following data, determine the value of the inventory at the lower-of-cost-or-market by applying lower-of-cost-or-market to each inventory item, as shown in Exhibit 10.
| Commodity | Inventory Quantity | Cost per Unit | Market Value per Unit (Net Realizable Value) |
|---|---|---|---|
| JFW1 | 127 | $58 | $63 |
| SAW9 | 248 | 29 | 27 |
$_________
#2
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