Yang Company purchased 2,000 widgets and has 400 widgets in its ending inventory at a cost of
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Yang Company purchased 2,000 widgets and has 400 widgets in its ending inventory at a cost of $90 each and a current replacement cost of $80 each. The net realizable value of each unit in the ending inventory is $70. The ending inventory under lower-of-cost-or-net realizable value is:
(a) $36,000.
(c) $28,000.
(b) $32,000.
(d) None of the above.
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Related Book For
Financial And Managerial Accounting
ISBN: 9781118004234
1st Edition
Authors: Donald E. Kieso, Paul D. Kimmel, Jerry J. Weygandt
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