Question 1 Bentley Company has 100 units of Item #222 and 50 units of Item #248 on hand at the end of the year. The cost of Item #222 was $30 per unit and the cost of Item # 248 was $75 per unit. Item #222 has a selling price of $36 while Item #248 has a selling price of $84. The cost to sell Item #222 is $9 per unit while the cost to sell Item # 248 is $6 per unit. How much is Bentley's ending inventory using lower of cost or net realizable value? O $6,850. O $6,600. $6,150.

Question 1 Bentley Company has 100 units of Item #222 and 50 units of Item #248 on hand at the end of the year. The cost of Item #222 was $30 per unit and the cost of Item # 248 was $75 per unit. Item #222 has a selling price of $36 while Item #248 has a selling price of $84. The cost to sell Item #222 is $9 per unit while the cost to sell Item # 248 is $6 per unit. How much is Bentley's ending inventory using lower of cost or net realizable value? O $6,850. O $6,600. $6,150.

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Description: Question 1Bentley Company has 100 units of Item #222 and 50 units of Item #248 on hand atthe end of the year. The cost of Item #222 was $30 per unit and the cost of Item# 248 was $75 per unit. Item #222 has a selling price of $36 while Item #248 has

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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