Question: PLEASE SHOW CALCULATIONS Lower-of-Cost-or-Market (LCM) Method The following data are taken from the Browning Corporation's inventory accounts: Item Code Quantity Unit Cost Replacement Cost ACE

PLEASE SHOW CALCULATIONS

Lower-of-Cost-or-Market (LCM) Method The following data are taken from the Browning Corporation's inventory accounts:

Item Code Quantity Unit Cost Replacement Cost
ACE 100 $75 $74
BDF 300 80 81
GHJ 400 70 68
MBS 200 73 77

Calculate the value of the company's ending inventory using the lower-of-cost-or-market method applied to each item of inventory.

Ending Inventory Value:

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