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Blossom's values its inventory using at the lower-of-cost-or-net-realizable value, which is $8680. What are the estimated selling costs used in making this determination? $3314 $2900 - 50 $2074 SUPPOR

Blossom's values its inventory using at the lower-of-cost-or-net-realizable value, which is $8680. What are the estimated selling costs used in making this determination? $3314 $2900 - 50 $2074 SUPPOR

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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x Your answer is incorrect. Blossom Inc. has following information for its finished goods at December 31, 2025: Replacement value Cost Normal profit margin Expected selling price $10557 $10185 $3314 $2900 50 $2074 10% $11580 Blossom's values its inventory using at the lower-of-cost-or-net-realizable value, which is $8680. What are the estimated selling costs used in making this determination? SUPPORT
Transcribed Image Text:x Your answer is incorrect. Blossom Inc. has following information for its finished goods at December 31, 2025: Replacement value Cost Normal profit margin Expected selling price $10557 $10185 $3314 $2900 50 $2074 10% $11580 Blossom's values its inventory using at the lower-of-cost-or-net-realizable value, which is $8680. What are the estimated selling costs used in making this determination? SUPPORT
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