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Business, 13.12.2019 03:31, chessacs6540
Smith company's inventory cost is $100. the expected sales price is $110, estimated selling costs are $6. the normal gross profit ratio is 20% of selling price. the replacement cost of the inventory is $106. smith company uses the lifo inventory method so must use the lower of cost or market approach and this inventory item should be valued ata) $102b) $106c) $104d) $110
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Smith company's inventory cost is $100. the expected sales price is $110, estimated selling costs ar...
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