Q1

Saved Help Save & Exit 1 Best Tractors Inc. manufactures high quality tractors for farmers. On April 1, a merchandizer purchased two tractors, A and B. The cost of unit A was $650, and the cost of unit B was $625. On April 30, the company had not sold the inventory. The net realizable value of unit A was now $685 while the net realizable value of unit B was $550. The adjustment associated with the lower of cost and net realizable value on April 30 will be: 02:37:59 1. Cost of Goods Sold 40 Inventory 140 2. Inventory 40 Cost of Goods Sold 40 3. Cost of Goods Sold 75 Inventory 75 4. 75 Inventory 175 Cost of Goods Sold Multiple Choice Option 1