On the basis of the following data,determine the value of the inventory at the lower of cost or market.Apply lower of cost or market to each inventory item.Show your work.
Definitions:
Minimum Wages
The lowest legal hourly pay rate that employers can pay their workers.
Work Hours
The designated period of time employees are required to work or be present at their job.
Personal Account Representative
An individual assigned to manage the specific needs and inquiries of an account holder in a financial, sales, or service organization.
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