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Apogee Group purchases for resale 2,000 calculators for $16 each. At year end, the replacement cost is $15 each, the estimated selling price, $21, the
Apogee Group purchases for resale 2,000 calculators for $16 each. At year end, the replacement cost is $15 each, the estimated selling price, $21, the disposal cost, $2, and the estimated markup, $4. If Apogee uses LCM costing by item, at what amount will the calculators be reported on the balance sheet? $32,000 $30,000 $34,000 $42,000 $38,000
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