Question
ABC Company purchased 1,000 units of inventory at a cost of $15 each. There are 200 units left in ending inventory. The net realizable value
ABC Company purchased 1,000 units of inventory at a cost of $15 each. There are 200 units left in ending inventory. The net realizable value of these units is $12 each. The ending inventory under the lower of cost and net realizable value rule is:
Select one:
a.$12,000
b.$2,400
c.$3,000
d.$600
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Fundamental Accounting Principles
Authors: Larson Kermit, Tilly Jensen
Volume I, 14th Canadian Edition
71051503, 978-1259066511, 1259066517, 978-0071051507
