At year-end, Dana Corporation has 3,000 units of Lolland, 3,000 units of Falster, and 4,500...
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Accounting
At year-end, Dana Corporation has 3,000 units of Lolland, 3,000 units of Falster, and 4,500 units of Jutland in its ending inventory. Specific data with respect to each product follows:
Lolland Falster Jutland
Cost 55 70 98
Net realizable value 48 77 94
What amount will Dana report for ending inventory using lower-of-cost-or-net realizable value?
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