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Basic Inventory Data for April 30 Are Presented Below for a Business

Question 53

Multiple Choice

Basic inventory data for April 30 are presented below for a business that employs the lower-of-cost-or-market basis of inventory valuation to each category. Basic inventory data for April 30 are presented below for a business that employs the lower-of-cost-or-market basis of inventory valuation to each category. What is the amount of reduction in the inventory at April 30 attributable to market decline? A) $14 B) $40 C) $180 D) $220 What is the amount of reduction in the inventory at April 30 attributable to market decline?


A) $14
B) $40
C) $180
D) $220

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