G Ltd. has two items in its inventory at the end of the taxation year....
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Accounting
G Ltd. has two items in its inventory at the end of the taxation year. Item one has a cost of $14,000 and a market value of $20,000. Item two has a cost of $15,000 and a market value of $13,000. Determine the minimum inventory valuation that G can use when determining net income for tax purposes.
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