Question
The Craig-Doran Partnership owns inventory that was purchased for $85,000, has a current replacement cost of $54,500, and is priced to sell for $98,000. At
The Craig-Doran Partnership owns inventory that was purchased for $85,000, has a current replacement cost of $54,500, and is priced to sell for $98,000. At what amount should the inventory be recorded in the accounts of the new partnership if Alexis is to be admitted?
a.$79,167
b.$54,500
c.$85,000
d.$98,000
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Payroll Accounting 20
Authors: Bernard J. Bieg, Judith A. Toland
26th Edition
1337268798, 9781337268790
