Niteco Company Ended Its Fiscal Year with Inventory Recorded at Its

Multiple Choice

Niteco Company ended its fiscal year with inventory recorded at its cost of $10,000.Niteco believes it will be able to sell the inventory for approximately $12,000.Due to changes in the market,Niteco would be able to replace this inventory for $9,000.How much should Niteco show for inventory on its year-end balance sheet?

A) $10,000
B) $12,000
C) $9,000
D) $2,000