Question
Your company has two items of inventory at the end of the accounting period as follows: Cost Fair Market Value Product A $45,000 $50,000 Product
Your company has two items of inventory at the end of the accounting period as follows:
| Cost | Fair Market Value | |
| Product A | $45,000 | $50,000 |
| Product B | $60,000 | $55,000 |
Calculate the inventory amount that would be reported on your balance sheet.
Show your work.
a. $100,000
b. $120,000
c. $$110,000
d. $95,000
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Effective Writing A For Accountants
Authors: Claire B. May, Gordon S. May
11th Edition
0134667387, 9780134667386
