On the basis of the following data determine the value of

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On the basis of the following data, determine the value of the inventory at the lower of cost or market. Assemble the data in the form illustrated in Exhibit.

Commodity

Inventory Quantity

Unit Cost Price

Unit Market Price

Buffal

 35

$115

$120

Dakota

 67

  90

  75

Frontier

  8

 300

 280

Midwest

 83

  40

  30

Rainbow

100

  90

  94

Reference no: EM13390814

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