You are reviewing the records for you business and the accounting department has given you the following inventory schedule Inventory Item Cost of Item Market Value A $4,500 $5,300 B 7,200 6,600 C 6,400 6,400 D 4,300 4,650 E 8,350 8,900 F 9,450 8,800 When the financial statements are prepared and a...

Valuation of Inventory Item Cost Market Value V ...

You are reviewing the records for you business and the accounting department has given you the following

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You are reviewing the records for you business and the accounting department has given you the following inventory schedule.

Inventory Item	Cost of Item	Market Value
A	$4,500	$5,300
B	7,200	6,600
C	6,400	6,400
D	4,300	4,650
E	8,350	8,900
F	9,450	8,800

When the financial statements are prepared and assuming the accounting department analyzes each item separately, the amount presented on the balance sheet in Inventory will be:

TOTAL INVENTORY = $ ?

Related Book For answer-question

Financial Accounting Information For Decisions

ISBN: 978-0324672701

6th Edition

Authors: Robert w Ingram, Thomas L Albright

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Posted Date: Jul 25, 2019 02:38 AM

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Financial Accounting Information For Decisions

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