Question

The following information pertains to item #007SS of inventory of Marine Aquatic Sales, Inc.:
Per unit
Cost ........... $180
Replacement cost ....... 181
Selling price ........ 195
The physical inventory indicates 2,000 units of item #007SS on hand. What amount will be reported on the Marine Aquatic Sales, Inc.’s balance sheet for this inventory item?



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  • CreatedSeptember 01, 2014
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5000