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Assigned to the company ending inventory

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Francine company's ending inventory is composed of 50 units that had cost $20 dollar each and 100 units that had cost $14 each. If the company can replace all 150 units at a cost of $16 each, determine the value that should be assigned to the company's ending inventory assuming that it applies LCM on an item by item basis. 

Reference no: EM131285789

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