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Compute the valuation for the December

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Reference no: EM132441479

Question - Nolen Company is preparing the annual financial statements dated December 31, 2020. Information about inventory stocked for regular sale follows:

Item

Quantity on Hand

Unit Cost When Acquired

Replacement Cost (market) at year end

A

50

$20

$19

B

100

45

45

C

20

59

62

D

40

40

36

Required - Compute the valuation for the December 31, 2020, inventory using the lower-of-cost-or-net realizable basis.

Reference no: EM132441479

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