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Business, 10.02.2020 23:15 missalawode28
At the end of the year, Ian Co. determined its inventory to be $258,000 on a LIFO (last in, first out) basis. The current replacement cost of this inventory was $230,000. Ian estimates that it could sell the inventory for $275,000 at a disposal cost of $14,000. If Ian's normal profit margin for its inventory was $10,000, what would be its net carrying value?
a. $251,000
b. $261,000
c. $258,000
d. $244,000
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At the end of the year, Ian Co. determined its inventory to be $258,000 on a LIFO (last in, first ou...
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