Question: Loft Co. reviewed its inventory values for proper pricing at year end. The following summarizes two inventory items examined for the lower of cost or

Loft Co. reviewed its inventory values for proper pricing at year end. The following summarizes two inventory items examined for the lower of cost or net realizable value: What amount should Loft include in inventory at year end if it uses the total of the inventory to apply the lower of cost or net realizable value? $600,000 $610,000 $530,000 $640,000

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