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Edison Company has 5,000 obsolete desk lamps that are carried in inventory at a manufacturing...

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Accounting

Edison Company has 5,000 obsolete desk lamps that are carried in inventory at a manufacturing cost of $45,000. If the lamps are reworked for $20,000, they could be sold for $37,000. Alternatively, the lamps could be sold for $9,000 as scrap. What should Edison Company do with the lamps? Why? Be sure to show your supporting calculations for your recommended course of action.

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