One inventory item has a sales price of $26 and selling expenses of $7 . The replacement
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One inventory item has a sales price of $26 and selling expenses of $7 . The replacement cost of the item is $10 and the original cost was $24. The normal profit margin on this item is $1. If there are 2,000 units on hand, at what amount will inventory be recorded on the balance sheet:
- $17000
- $26000
- $11000
- $19000
Expert Answer:
Answer rating: 100% (QA)
C 11000 Inventory is the raw materials used to produce goods as well as the goods that are available ... View the full answer
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