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Compute lower-of-cost valuation for companys inventory

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Reference no: EM131967435

Problem

Pharoah Company accumulates the following cost and market data at December 31.

Inventory Categories

Cost Data

Market Data

Cameras

$10,140

$11,150

Camcorders

8,235

8,895

DVDs

10,998

9,558

Compute the lower-of-cost-or-market valuation for company's inventory.

Reference no: EM131967435

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