At What Amount Should Oldwest Report Its Inventory?

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At What Amount Should Oldwest Report Its Inventory?

dWest's inventory: Revolvers - 16 at $120 with Market value of $150 Spurs - 23 at $27 with MV 22 Hats - 12 at 56 with MV 40 At what amount should OldWest report its inventory?
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$2,906. (16 x $120) + (23 x $22) + (12 x $40) = $2,906.

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