Review the following data: Which of the following depicts the proper account balance after the application of

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Review the following data:

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Which of the following depicts the proper account balance after the application of the lower-of-cost-and-netrealizable-value rule? 

a. Cost of goods sold will be \(\$ 36,400\).

b. Cost of goods sold will be \(\$ 37,000\).

c. Cost of goods sold will be \(\$ 37,400\).

d. Ending inventory will be \(\$ 24,000\).

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Horngrens Accounting Volume 1

ISBN: 9780135359709

11th Canadian Edition

Authors: Tracie Miller Nobles, Brenda Mattison, Ella Mae Matsumura, Carol Meissner, JoAnn Johnston, Peter Norwood

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