accounting-Cumming Inc. carries four items in inventory
QUESTION
Cumming Inc. carries four items in inventory.Determine the proper carrying value of each inventory item using the lower-of-cost-or-market method.ItemCostReplacement CostEstimated Sales PriceDisposal CostsNormal ProfitA$11.00$10.00$16.00$1.80$4.00B12.0012.0020.001.602.50C5.004.009.501.901.00D14.0015.0015.002.403.50
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