Multiple Choice
One hundred units of inventory on hand at the end of the year are recorded at their cost of $10 each using LIFO.Current replacement cost is $8.00.What amount would be reported as Inventory on the balance sheet?
A) $1,000.00
B) $10.00
C) $800.00
D) $8.00
Correct Answer:
Verified
Correct Answer:
Verified
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