Garcel Inc. held unfinished inventory at a cost of $ 8 5 , 0 0 0 with
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Question:
Garcel Inc. held unfinished inventory at a cost of $ with a sales value of $ The inventory will cost $ to complete. The normal profit margin is of sales. The replacement cost of the inventory was $ What amount should Garcel report as inventory on the balance sheet under lower of cost or market? $ $ $ $
Since there is no mention whether the company is using Lifo method nor Fifo nor average method how can the answer be certain to
Why can't be an answer when assuming the company used fifo method which is a method comparing the original cost only with NRV
Related Book For
Introduction To Materials Management
ISBN: 978-9386873248
8th edition
Authors: Arnold J. R. Tony, Gatewood Ann K., M. Clive Lloyd N. Chapman Stephen
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