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landers, inc. has 7 units in inventory on december 31. the units were purchased in november for $180 each. the price lists from suppliers indicate the current replacement cost of the item to be $174 each. what is the effect on gross profit if landers values its ending merchandise inventory using the lower-of-cost-or-market rule?
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landers, inc. has 7 units in inventory on december 31. the units were purchased in november for $180...
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