PLEASE DO NOT USE HAND WRITING . The December 31, 2016 inventory...
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Accounting
PLEASE DO NOT USE HAND WRITING
. The December 31, 2016 inventory of ABC Company consisted of four products, for which certain information is provided below.
Estimated Expected
Product Original Cost Completion Cost Selling Price
A SAR25 SAR10 SAR40
B SAR42 SAR20 SAR58
C SAR120 SAR40 SAR150
D SAR18 SAR5 SAR26
Using the lower-of-cost-or-net realizable value approach applied on an individual-item basis, compute the inventory valuation that should be reported for each product on December 31, 2016.
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