Question
Favo Company sells 3 different items regularly: A, B and C. At the end of the current year, only one of each item is left
Favo Company sells 3 different items regularly: A, B and C. At the end of the current year, only one of each item is left in stock. There are no selling costs (costs of disposition). Here is a summary of information about each item:
Item A | Item B | Item C | |
Cost of item | 8,500 | 9,300 | 7,500 |
Expected selling price of item | 8,600 | 8,200 | 7,400 |
Box 1: At what dollar amount is item A stated on the balance sheet?
Box 2: At what dollar amount is item B stated on the balance sheet?
Box 3: At what dollar amount is item C stated on the balance sheet?
Note: You are giving me the amount that will show up on the BALANCE SHEET for each item. There is one of each item left in stock. I am NOT looking for a computation of gain or loss-- these items have not been sold.
Please do not use any punctuation in your answers. Each box should have just a number in it
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