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Lower of Cost or Market
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Lower of Cost or Market
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5. Inventory / Lower of Cost or Market / Problem 9
Problem 9
If inventory is marked down from a historical cost of \$75,000 to a market value of \$65,000, what is the loss amount?
A
\$75,000
B
\$65,000
C
\$10,000
D
\$5,000
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