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Data on the Physical Inventory for a Company as of December

Question 16

Multiple Choice

Data on the physical inventory for a company as of December 31, are given below:
Data on the physical inventory for a company as of December 31, are given below: Assuming the company applies the lower-of-cost-or net realizable value rule on the inventory by major category of items, the inventory balance reported on the Balance Sheet as of December 31 will be: A) $33,000 B) $33,100 C) $33,300 D) $33,400
Assuming the company applies the lower-of-cost-or net realizable value rule on the inventory by major category of items, the inventory balance reported on the Balance Sheet as of December 31 will be:


A) $33,000
B) $33,100
C) $33,300
D) $33,400

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