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
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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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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