107 given the following information for the lawrence company nrv minus net normal 4313839

107 given the following information for the lawrence company nrv minus net normal 4313839

107.Given the following information for the Lawrence Company:

?

?

?

NRV Minus

Net

?

?

?

Normal

Realizable

Replacement

Item

Cost

Profit

Value

Cost

a

$ 3.40

$ 2.79

$ 4.14

$ 4.65

b

36.00

28.80

32.40

27.60

c

2.40

1.32

1.56

1.94

d

6.00

5.55

6.15

6.30

e

24.00

20.40

22.80

21.00

f

13.35

10.55

12.30

12.90

Required:
Determine the lower of cost or market for each inventory item.

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