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At year-end, The Kitchen Shop has a refrigerator that has been used as a demonstration...

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Accounting

At year-end, The Kitchen Shop has a refrigerator that has been used as a demonstration model. The refrigerator cost $375 and sells for $550 when new. In its present condition, the refrigerator will be sold for $330. Related selling costs are an estimated $15. At what amount should the refrigerator be carried in inventory?

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