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Inventory That Originally Cost $11,200 Was Written Down to Its

Question 1

Multiple Choice

Inventory that originally cost $11,200 was written down to its net realizable value of $9,400 at the end of 2021.At the end of 2022, the net realizable value is determined to be $11,700.At what amount should the inventory be reported on the December 31, 2022 statement of financial position?


A) $11,700
B) $11,200
C) $9,700
D) $9,400

Correct Answer:

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