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Campbell Corporation sells three different products. The following information is available on December 31: Inventory Item Units Cost per unit Net realizable value per unit Product A 100 $2.00 $1.50 Product B 250 $4.00 $5.00 Product C 75 $6.00 $4.00 When applying the lower of cost or net realizable value rule to each item, what will be Campbell's total ending inventory balance? $1,450 $1,650 $1,700 $1,900

Campbell Corporation sells three different products. The following information is available on December 31: Inventory Item Units Cost per unit Net realizable value per unit Product A 100 $2.00 $1.50 Product B 250 $4.00 $5.00 Product C 75 $6.00 $4.00 When applying the lower of cost or net realizable value rule to each item, what will be Campbell's total ending inventory balance? $1,450 $1,650 $1,700 $1,900

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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Campbell Corporation sells three different products. The following information is available on December 31: Inventory Item Units Cost per unit Net realizable value per unit Product A 100 $2.00 $1.50 Product B 250 $4.00 $5.00 Product C 75 $6.00 $4.00 When applying the lower of cost or net realizable value rule to each item, what will be Campbell's total ending inventory balance? $1,450 $1,650 $1,700 $1,900
Transcribed Image Text:Campbell Corporation sells three different products. The following information is available on December 31: Inventory Item Units Cost per unit Net realizable value per unit Product A 100 $2.00 $1.50 Product B 250 $4.00 $5.00 Product C 75 $6.00 $4.00 When applying the lower of cost or net realizable value rule to each item, what will be Campbell's total ending inventory balance? $1,450 $1,650 $1,700 $1,900
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