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Lower cost of or market basis
The question I cannot get at all is :
ITEM Quantity on hand unit cost when acquired Market cost at year end A 50 $20 $19 B 100 45 45 C 20 59 62 D 40 40 36 QUESTION: Compute the valuation for the December 31,2012 inventory using lower-of-cost-or market basis? Thanks I can't solve this to save my life! |
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