A company determined the following values for its inventory as of the end of its fiscal year:

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Historical................... $50,000

Current replacement cost...........$35,000

Net realizable value......................$45,000

Net realizable value

less a normal profit margin............40,000

Fair Value..........................................48,000

What amount should the company report for inventory on its balance sheet?

a. $35,000

b. $40,000

c. $45,000

d. $48,000

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International Accounting

ISBN: 978-1260466539

5th edition

Authors: Timothy Doupnik, Mark Finn, Giorgio Gotti, Hector Perera

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Question Posted: Sep 20, 2019 06:44 AM

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A company determined the following values for its inventory as of the end of its fiscal year:

Question:

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International Accounting

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