Question
12. The following information pertains to inventory held by a company on December 31, 2011. Historical Cost: $30,000 Replacement Cost: $20,000 Net Realizable Value: $27,000
| 12. The following information pertains to inventory held by a company on December 31, 2011. Historical Cost: $30,000 Replacement Cost: $20,000 Net Realizable Value: $27,000 Normal Profit Margin: $20% What amount of inventory should be reported under IFRS? (Points : 1.5) |
$25,000. $27,000. $30,000. $5,000. $2,000.
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Managerial Accounting
Authors: Peter C. Garrison, Ray H., Noreen, Eric W., Brewer
12th Edition
0071274227, 978-0071274227
