Surgical Medical Supplies Ltd (“Surgical”) has the following information for its surgical equipment inventory. The selling price of the inventory is $230. The cost of the inventory is $200. The estimated costs to sell the inventory is $20. Under FRS 2 Inventories, how should Surgical report this inventory item on its balance sheet? a. $210 b. $200 c. $230 d. $180

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Inventory Accounting

Inventory accounting is that branch of accounting that helps in determining the specific value of assets at different stages of production and development.