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Valuing Inventory at Lower-of-Cost-or-Market Gard Inc. has compiled the following information related to...

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Accounting

Valuing Inventory at Lower-of-Cost-or-Market
Gard Inc. has compiled the following information related to its five products. Costs of disposal are estimated to be 10% of selling price, and gross profit is estimated to be 25% of the selling price.
Determine the value of inventory for each item applying the lower-of-cost-or-market rule.
Note: Round each amount to the nearest dollar.
\table[[,#1,#2,#3,#4,#5],[Estimated selling price,$330,$380,$410,$500,$650
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