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Marin, Inc, values its inventory at the lower-of-LIFO-cost-or-market. The following information is available from the...

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Accounting

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Marin, Inc, values its inventory at the lower-of-LIFO-cost-or-market. The following information is available from the company's inventory records as of December 31, 2017. Estimated Price/Unit $14.28 9.08 32.18 20.20 14.23 Normal Completion & Disposal Cost/Unit Profit Margin/Unit Unit Replacement Selling Item Quantity Cost Cost/Unit X490 x12 5,049 7.14 X682 18,360 19.38 Z195 12,75014.54 2846 $3.06 0.26 3.32 1.43 2.14 $3.47 1.84 9.18 5.87 1.12 10,404 $12.75 $12.19 7.65 18.97 14.28 3.01 8,772 12.24 Calculate the lower-of-cost-or-market using the individual-item approach Lower-of-Cost-or-Market (Per unit basis) X490 X512 X682 X195 X846

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