Lower-of-Cost-or-Market Method On the basis of the following data:
Item Inventory Quantity Cost per Unit
Market Value per Unit
(Net Realizable Value)
JFW1 6,330
$10
$11
SAWS
1,140
36
34
Determine the value of the inventory at the lower-of-cost-or-market by applying lower-of-cost-or-market to each inventory item, as shown in Exhibit
9.
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