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Determine the amount of ending inventory

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Question - Serebin Company applied FIFO to its inventory and got the following results for its ending inventory.

Cameras

113

units at a cost per unit of

$66

DVD players

152

units at a cost per unit of

$78

iPods

125

units at a cost per unit of

$85

The cost of purchasing units at year-end was cameras $76, DVD players $57, and iPods $75.

Determine the amount of ending inventory at lower-of-cost-or-market.

Reference no: EM132099223

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