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Name: Andrews Corp. ended the year carrying $50,438,929 worth of inventory.
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Description: Andrews Corp. ended the year carrying $50,438,929 worth of inventory. Had they sold their entire inventory at their current prices,how much more revenue would it have brought to Andrews Corp.?O $50,438,929O $117,002,279$33,281,675$83,720,604

Business

Accounting

Andrews Corp. ended the year carrying $50,438,929 worth of inventory. Had they sold their entire inventory at their current prices, how much more revenue would it have brought to Andrews Corp.?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Concept explainers

Inventory Valuation

Before discussing the topic inventory valuation let’s discuss the meaning of inventory. In accounting, inventory is also known as stock. Inventory means all the finished goods, materials, merchandise that a business holds for the purpose of selling it in the market with the motive of earning profit.

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Andrews Corp. ended the year carrying $50,438,929 worth of inventory. Had they sold their entire inventory at their current prices,
how much more revenue would it have brought to Andrews Corp.?
O $50,438,929
O $117,002,279
$33,281,675
$83,720,604

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