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Lower-of-Cost-or-Market (LCM) Method The following data are taken from the Simpson Corporation's inventory accounts: Item...

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Accounting

Lower-of-Cost-or-Market (LCM) Method The following data are taken from the Simpson Corporation's inventory accounts: Item Code Quantity Unit Cost Replacement Cost Product 1 ZKE 150 $72 $70 ZKF 350 83 84 Product 2 MNJ 450 72 69 MNS 250 83 87 Calculate the value of the company's ending inventory using the lower-of-cost-or-market method applied to each item of inventory. Applying the lower-of-cost-or-market method to each item of the inventory results in an ending inventory amount of $Answer 0

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