What value should Jackson report for the TVs

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Reference no: EM131828026

Question: Jackson Music Center has five TVs on hand at the balance sheet date that cost $400 each. The current replacement cost is $350 per unit. Under the lowerof-cost-or-market basis of accounting for inventories, what value should Jackson report for the TVs on the balance sheet? Why?

Reference no: EM131828026

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