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Business, 09.12.2020 21:20 briannalv0814

€‹Landers, Inc. has 7 units in inventory on December 31. The units were purchased in November for $190 each. The price lists from suppliers indicate the current replacement cost of the item to be $184 each. What is the effect on gross profit if Landers values its ending merchandise inventory using the lower-of-cost-or market rule? a. The gross profit would increase by $ 6
b. The gross profit would decrease by$ 42
c. The gross profit would increase by $ 42
d. The gross profit would not be affected.

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€‹Landers, Inc. has 7 units in inventory on December 31. The units were purchased in November for $...
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