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Flatulence Inc. is computing its inventory at December 31,2023. The following information relates to the...

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Accounting

Flatulence Inc. is computing its inventory at December 31,2023. The following information relates to the five major inventory items regularly stocked for resale:
Using the lower-of-cost-or-net realizable value rule on an item-by-item basis, compute the total valuation for each inventory item at December 31,2023, and total inventory valuation.
Item_ Ending Inventory Valuation
A $
B $
C $
D $
E ,$
Total LCM
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\table[[\table[[Vaughn Inc.],[Balance Sheets]]],[,Dec. 31,2025,Jan. 1,2025,Inc./Dec.],[Assets,,,,],[Cash,$44,100,$12,740,$31,360,Inc.],[Accounts receivable,89,180,86,240,2,940,Inc.],[Equipment,38,220,21,560,16,660,Inc.],[Less: Accumulated depreciation-equipment,16,660,10,780,5,880,Inc.],[Total,$154,840,$109,760,,],[Liabilities and Stockholders' Equity.,,,,],[Accounts payable,$19,600,$14,700,$4,900,Inc.],[Common stock,98,000,78,400,19,600,Inc.],[Retained earnings,37,240,16,660,20,580,Inc.],[Total,$154,840,$109,760,,]] ...

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