Question: PE 7-6B Lower-of-Cost-or-Market Method OBJ. 6 EE 7-6 On the basis of the following data, determine the value of the inventory at the lower of

PE 7-6B Lower-of-Cost-or-Market Method OBJ. 6 EE 7-6 On the basis

PE 7-6B Lower-of-Cost-or-Market Method OBJ. 6 EE 7-6 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 Exhibit 9. Item Inventory Quantity 5,750 1,040 Cost per Unit Market Value per Unit (Net Realizable Value) $ 9 $10 27 24 JFW1 SAW9

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