ng price cement cost to sell al gross profit ratio Surgical Surgical Equipment Supplies $305 $165 215 135 285 125 48 30% 14 30% Rehab Equipment $385 295 280 34 30% Rehab Supplies $210 207 203 28 20% ng the lower of cost or market rule, the inventory of surgical equipment would be valued at:

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Question
Data related to the inventories of Kimzey Medical Supply are presented below:
Selling price
Cost
Replacement cost
Costs to sell
Normal gross profit ratio
Multiple Choice
O
O
In applying the lower of cost or market rule, the inventory of surgical equipment would be valued at:
O
$285.
$166.
Surgical
Equipment
$305
215
285
48
30%
$215.
Surgical
Supplies
$165
135
125
14
30%
Rehab
Equipment
$385
295
280
34
30%
Rehab
Supplies
$210
207
203
28
20%
Transcribed Image Text:Data related to the inventories of Kimzey Medical Supply are presented below: Selling price Cost Replacement cost Costs to sell Normal gross profit ratio Multiple Choice O O In applying the lower of cost or market rule, the inventory of surgical equipment would be valued at: O $285. $166. Surgical Equipment $305 215 285 48 30% $215. Surgical Supplies $165 135 125 14 30% Rehab Equipment $385 295 280 34 30% Rehab Supplies $210 207 203 28 20%
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