Question: Question 7 Your answer is partially correct. Try again In some instances, accounting principles require a departure from valuing inventories at cost alone. Determine the

Question 7 Your answer is partially correct. Try again In some

Question 7 Your answer is partially correct. Try again In some instances, accounting principles require a departure from valuing inventories at cost alone. Determine the proper unit inventory price in the following cases, under the lower-of-cost-or-market rule Cases 3 4 5 Cost Net realizable value Net realizable value less normal profit Market (replacement cost) $16.50 $17.30 $16.70 $17.80 $18.10 14.80 13.44 14.40 16.60 14.90 13.50 18.60 16.80 16.50 10.70 8.90 9.70 17.80 16.10 15.10 Cases 3 4 5 Unit inventory price 13.5 16.5 14.4 9.7 15.1

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