Question: .. Question: 8A distribution company has determined its December 31 inventory on a LIFO basis at $200,000. Information pertaining to that inventory follows: Estimated selling

.. Question: 8A distribution company has determined its December 31 inventory

Question: 8A distribution company has determined its December 31 inventory on a LIFO basis at $200,000. Information pertaining to that inventory follows: Estimated selling price $204,000 Estimated cost of disposal 10,000 Normal profit margin 30,000 Current replacement cost 180,000 The company records losses that result from applying the lower-of-cost-or-market rule. At December 31, the loss that the company should recognize is

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