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Business, 01.08.2020 21:01 rafamoreura

Garcel, Inc. held unfinished inventory at a cost of $85,000 with a sales value of $125,000. The inventory will cost $10,500 to complete. The normal profit margin is 30% of sales. The replacement cost of the inventory was $75,000. If Garcel uses the last-in, first-out method to determine inventory cost, what amount should Garcel report as inventory on its balance sheet

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