Question: Favo Company sells 3 different items regularly: A, B and C. At the end of the current year, only one of each item is left

Favo Company sells 3 different items regularly: A, B and C. At the end of the current year, only one of each item is left in stock. There are no selling costs (costs of disposition). Here is a summary of information about each item:

Item A Item B Item C
Cost of item 8,500 9,300 7,500
Expected selling price of item 8,600 8,200 7,400

Box 1: At what dollar amount is item A stated on the balance sheet?

Box 2: At what dollar amount is item B stated on the balance sheet?

Box 3: At what dollar amount is item C stated on the balance sheet?

Note: You are giving me the amount that will show up on the BALANCE SHEET for each item. There is one of each item left in stock. I am NOT looking for a computation of gain or loss-- these items have not been sold.

Please do not use any punctuation in your answers. Each box should have just a number in it.

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