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The following data refer to Brompton Company's ending inventory: Item Code Quantity Unit Cost Unit Market Value Small 100 $ 250 $246 Medium 400 150 145 Large 600 170 162 Extra-Large 250 265 270 What is the ending inventory balance if the lower cost or net realisable(realizable) value rule is applied to each item of inventory? A) $248,050 B) $246,050 C) $253,250 D) $252,850

The following data refer to Brompton Company's ending inventory: Item Code Quantity Unit Cost Unit Market Value Small 100 $ 250 $246 Medium 400 150 145 Large 600 170 162 Extra-Large 250 265 270 What is the ending inventory balance if the lower cost or net realisable(realizable) value rule is applied to each item of inventory? A) $248,050 B) $246,050 C) $253,250 D) $252,850

FINANCIAL ACCOUNTING
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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The following data refer to Brompton Company's ending inventory: Item Code Quantity Unit Cost Unit Market Value Small 100 $ 250 $246 Medium 400 150 145 Large 600 170 162 Extra-Large 250 265 270 What is the ending inventory balance if the lower cost or net realisable(realizable) value rule is applied to each item of inventory? A) $248,050 B) $246,050 C) $253,250 D) $252,850
Transcribed Image Text:The following data refer to Brompton Company's ending inventory: Item Code Quantity Unit Cost Unit Market Value Small 100 $ 250 $246 Medium 400 150 145 Large 600 170 162 Extra-Large 250 265 270 What is the ending inventory balance if the lower cost or net realisable(realizable) value rule is applied to each item of inventory? A) $248,050 B) $246,050 C) $253,250 D) $252,850
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