Relevant and sunk costs Gilmark Company has 10,000 obsolete lamp 1 answer below »

Relevant and sunk costs Gilmark Company has 10,000 obsolete lamps carried in inventory at a cost of $12 each. They can be sold as they are for $4 each. They can be reworked, however, at a total cost of $55,000 and sold for $10 each.
Required
Determine whether it is worthwhile to rework these lamps.

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