(a) Moberg Company sells three different categories of tools (small, medium, and large). The cost and market value of its inventory of tools are as follows.
(b) Early in 2017, Chien Company switched to a just-in-time inventory system. Its sales revenue, cost of goods sold, and inventory amounts for 2016 and 2017 are shown below.
This question was answered on: Jul 11, 2017
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