Question:23 You are reviewing the records for your business and the accounting department has given you the following inventory schedule. Inventory Item Cost of item Market Value A B $ 4,650 $5,500 7,200 6,550 0 6,100 6,100 D E 4,100 5,000 8,050 9,400 FL 9,400 9,050 When the financial statements are prepared and assuming the accounting department analyzes each item separately, the amount presented on the balance sheet in Inventory will be
Question:23 You are reviewing the records for your business and the accounting department has given you the following inventory schedule. Inventory Item Cost of item Market Value A B $ 4,650 $5,500 7,200 6,550 0 6,100 6,100 D E 4,100 5,000 8,050 9,400 FL 9,400 9,050 When the financial statements are prepared and assuming the accounting department analyzes each item separately, the amount presented on the balance sheet in Inventory will be
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Question:23
You are reviewing the records for your business and the accounting
department has given you the following inventory schedule.
Inventory Item
Cost of item Market Value
A
B
$ 4,650
$5,500
7,200
6,550
0
6,100
6,100
D
E
4,100
5,000
8,050
9,400
FL
9,400
9,050
When the financial statements are prepared and assuming the
accounting department analyzes each item separately, the amount
presented on the balance sheet in Inventory will be
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