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Better Deals, Inc. has 6 units in inventory on December 31. The units were purchased in November for $170 each. The price lists from the suppliers indicate that the same items would now cost the company a total of $1,050. What would be the amount reported as ending Merchandise Inventory on the balance sheet? A. $1,050 B. $345 C. $2,070 O D. $1,020

Better Deals, Inc. has 6 units in inventory on December 31. The units were purchased in November for $170 each. The price lists from the suppliers indicate that the same items would now cost the company a total of $1,050. What would be the amount reported as ending Merchandise Inventory on the balance sheet? A. $1,050 B. $345 C. $2,070 O D. $1,020

FINANCIAL ACCOUNTING
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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Subject:- accounting 

Better Deals, Inc. has 6 units in inventory on December 31. The units were purchased in November for $170 each. The price lists from the suppliers indicate that the same items would now cost the company a total of $1,050. What would be the amount reported as ending Merchandise Inventory on the balance sheet? A. $1,050 B. $345 C. $2,070 O D. $1,020
Transcribed Image Text:Better Deals, Inc. has 6 units in inventory on December 31. The units were purchased in November for $170 each. The price lists from the suppliers indicate that the same items would now cost the company a total of $1,050. What would be the amount reported as ending Merchandise Inventory on the balance sheet? A. $1,050 B. $345 C. $2,070 O D. $1,020
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