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Assume the retailer started the year with a beginning inventory of one TV, which had an invoice cost of $300. During the year, the dealer
Assume the retailer started the year with a beginning inventory of one TV, which had an invoice cost of $300. During the year, the dealer cost of identical TVs increased to $400, and the retailer purchases another TV at this cost. The retailer applies replacement cost accounting. Which of the following is the Current Cost of Goods Available for Sale?
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