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Given the following information for an inventory item of the Scottsdale Corporation: Cost Replacement Cost Estimated Sales Price Normal Profit Cost of Completion $102
Given the following information for an inventory item of the Scottsdale Corporation: Cost Replacement Cost Estimated Sales Price Normal Profit Cost of Completion $102 $ 98 $114 $ 6 $ 13 Using the LCNRV Rule, the proper inventory amount for the balance sheet is: Select one: O a. $98 O b. $96 O c. $101 O d. $102 O e. $108
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Intermediate Accounting
Authors: Kin Lo, George Fisher
Volume 1, 1st Edition
132612119, 978-0132612111
