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Consider the following information pertaining to OldWest's inventory: Product Quantity Cost Net Realizable Value Revolvers 13 $ 127 $ 153 Spurs 23 24 19 Hats
Consider the following information pertaining to OldWest's inventory:
| Product | Quantity | Cost | Net Realizable Value | ||||||
| Revolvers | 13 | $ | 127 | $ | 153 | ||||
| Spurs | 23 | 24 | 19 | ||||||
| Hats | 8 | 57 | 47 | ||||||
At what amount should OldWest report its inventory?
Multiple Choice
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$2,802.
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$2,659.
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$2,562.
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$2,464.
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The AICPA Audit Committee Toolkit Private Companies
Authors: AICPA
2nd Edition
1940235464, 978-1940235462
