Question: Use the following data for Rocket Company,determine the value inventory under the lower of cost or market rule applied on an indvidual tem basis inventory

basis inventory Quantity 200 100 400 Unit Cost Price $20 $28 $16

Use the following data for Rocket Company,determine the value inventory under the lower of cost or market rule applied on an indvidual tem basis inventory Quantity 200 100 400 Unit Cost Price $20 $28 $16 Unit Market Price $14 $32 $12 Select one: A.$13,600 B.$10,400 C. $13.400 D. $12,000

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