INTER. ACCOUNTING - CONNECT+ALEKS ACCESS
10th Edition
ISBN: 9781264770335
Author: SPICELAND
Publisher: MCG
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GENERAL ACCOUNT - 45
Yang Company purchased 2,000 phones and has 400
phones in its ending inventory at the cost of $90 each and
a current replacement cost of $80 each. The net realizable
value of each phone in the ending inventory is $70.
The ending inventory under lower-of-cost-or-net realizable
value is?
(a) $36,000.
(b) $32,000.
(c) $28,000.
(d) None of the above.
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