Multiple Choice
A company normally sells its product for $20 per unit.However,the selling price has fallen to $15 per unit.This company's current inventory consists of 200 units purchased at $16 per unit.Replacement cost has now fallen to $13 per unit.What is the amount of the lower cost of market adjustment the company must make as a result of this decline in value?
A) $1,000.
B) $1,400.
C) $400.
D) $600.
E) $800.
Correct Answer:
Verified
Correct Answer:
Verified
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