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Novelli's Nursery has developed the following data for lower of cost and net realizable valuation for its products:
The costs to sell are 10% of selling price.
-Required: Determine the reported inventory value assuming the lower of cost and net realizable value rule is applied to the total inventory.

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Use the following to answer questions 
Novelli's Nursery has developed the following data for lower of cost and net realizable valuation for its products:
  The costs to sell are 10% of selling price.
-Required: Determine the reported inventory value assuming the lower of cost and net realizable value rule is applied to the total inventory.

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The Answer of Use the following to answer questions 
Novelli's Nursery has developed the following data for lower of cost and net realizable valuation for its products:
  The costs to sell are 10% of selling price.
-Required: Determine the reported inventory value assuming the lower of cost and net realizable value rule is applied to the total inventory.

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