A company’s normal selling price for its product is $28 per unit. However, due to market competition, the selling price has fall
en to $23 per unit. This company's current FIFO inventory consists of 280 units purchased at $24 per unit. Net realizable value has fallen to $21 per unit. Calculate the value of this company's inventory at the lower of cost or market.
If the country's money loses its value, people will remove their savings from banks, shift their money into other currencies and purchase investments that are not tied to the country's currency.
