Question
One inventory item has a sales price of $26 and selling expenses of $7. The replacement cost of the item is $10 and the
One inventory item has a sales price of $26 and selling expenses of $7. The replacement cost of the item is $10 and the original cost was $24. The normal profit margin on this item is $1. If there are 2,000 units on hand, at what amount will inventory be recorded on the balance sheet? $30000 $54000 $72000 $57000
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Accounting Information System
Authors: James A. Hall
7th Edition
978-1439078570, 1439078572
