Acompany normally sells its product for $20 per unit. however, the selling price has fallen to $15 per unit. this company's current fifo inventory consists of 200 units purchased at $16 per unit. net realizable value has now fallen to $13 per unit. what is the amount of the lower cost of market adjustment the company must make as a result of this decline in value?
a. $1000
b. $1400
c. $400
d. $600
e. $800
Answers: 2
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Acompany normally sells its product for $20 per unit. however, the selling price has fallen to $15 p...
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