You are given the following data in relation to two items held in inventory.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:You are given the following data in relation to two items held in inventory.
Item A
Item B
Select one:
a. 980
O b.
Purchase
price
1,150
C.
850
d. 1,030
e. 1,200
800
200
1,000
Costs
incurred to
date
100
50
150
Estimated
selling price
850
400
1,250
Selling costs
120
What is the aggregate amount at which inventories of these items should be stated in the statement of
financial position?
100
220
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