Pluto Metals Inc. has the following amount totals (i.e., units are already multiplied by_per unit amounts),...

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Pluto Metals Inc. has the following amount totals (i.e., units are already multiplied by_per unit amounts), for each of their two canning metal products on December 31. (total amount) Tin Replacement cost $25,200 $28,900 Normal profit $500 $1,900 Historical cost NRV $22,700 $33,100 $23,600 $33,400 Aluminum Determine the Lower-of-cost-or-market total inventory balance assuming an individual inventory-level as of December 31. Please put your answer in bold font. To receive credit, you must show your work (including your numerical comparisons). Pluto Metals Inc. has the following amount totals (i.e., units are already multiplied by_per unit amounts), for each of their two canning metal products on December 31. (total amount) Tin Replacement cost $25,200 $28,900 Normal profit $500 $1,900 Historical cost NRV $22,700 $33,100 $23,600 $33,400 Aluminum Determine the Lower-of-cost-or-market total inventory balance assuming an individual inventory-level as of December 31. Please put your answer in bold font. To receive credit, you must show your work (including your numerical comparisons).

Answer rating: 100% (QA)

Solution Lets start with understanding its concept first to calculate value of inventory through thi... View the full answer