A company sells four products: I,II,III,and IV.The company values all inventories using the lower-of-cost-or-market procedure.The company has consistently experienced a profit margin of 20 percent of sales and expects this rate to hold for the future.Additional information,shown below,is available for the most recent year as of December 31.

-See information regarding the four products above.Using the lower-of-cost-or-market procedure,what is the reported inventory value at December 31 for one unit of Product IV?

Question

A company sells four products: I,II,III,and IV.The company values all inventories using the lower-of-cost-or-market procedure.The company has consistently experienced a profit margin of 20 percent of sales and expects this rate to hold for the future.Additional information,shown below,is available for the most recent year as of December 31.
 
-See information regarding the four products above.Using the lower-of-cost-or-market procedure,what is the reported inventory value at December 31 for one unit of Product IV?

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The Answer of A company sells four products: I,II,III,and IV.The company values all inventories using the lower-of-cost-or-market procedure.The company has consistently experienced a profit margin of 20 percent of sales and expects this rate to hold for the future.Additional information,shown below,is available for the most recent year as of December 31.
 
-See information regarding the four products above.Using the lower-of-cost-or-market procedure,what is the reported inventory value at December 31 for one unit of Product IV?

A Company Sells Four Products: I,II,III,and IV