EBK ACCOUNTING INFORMATION SYSTEMS
EBK ACCOUNTING INFORMATION SYSTEMS
14th Edition
ISBN: 9780134475646
Author: ROMNEY
Publisher: PEARSON
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Chapter 11, Problem 13.1P
To determine

Identify the incorrect statement.

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Best Deals Inc. has six CD players in ending merchandise inventory on December 31. The players were purchased in November for $165. The price lists from suppliers indicate the current replacement cost of a CD player to be $162. What would be the amount reported as Inventory on the balance sheet? a. 972$ b. 990$ c. 1800 d. 1890
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