On the basis of the data shown below: Item Inventory Quantity Unit...
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Accounting
On the basis of the data shown below:
| Item | Inventory Quantity | Unit Cost Price | Unit Market Price |
|---|---|---|---|
| Raven 10 | 1,200 | $115 | $112 |
| Dove 23 | 6,500 | 17 | 22 |
Determine the value of the inventory at the lower-of-cost-or-market. (Note: Apply lower-of-cost-or-market to each inventory item, as shown in Exhibit 10.)
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