Multiple Choice
Twenty units of inventory on hand at the end of the year are recorded at their cost of $5.00 per unit using FIFO.Current replacement cost is $4.50 per unit.What amount would be reported as inventory on the balance sheet?
A) $100.00
B) $5.00
C) $4.50
D) $90.00
Correct Answer:
Verified
Correct Answer:
Verified
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