Question: Determine the unit value that should be used for inventory costing following lower of cost or market value. A B C D E F Cost$2.35$2.47$2.35$2.54$2.44$2.44

Determine the unit value that should be used for inventory costing following "lower of cost or market value".

ABCDEF

Cost$2.35$2.47$2.35$2.54$2.44$2.44

Replacement cost2.202.552.202.522.372.46

Net realizable value2.502.502.502.452.502.50

Net realizable value less normal profit2.252.302.402.302.302.30

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