On December 31, 2022, Cruise Company has 15,000 units of an inventory item, which costs $45 per unit when purchased on June 15, 2022. The selling price was $80 per unit. On December 30, 2022, it was determined that the cost to sell is $37 per unit. At what amount should the 15,000 units of inventory be reported on the December 31, 2022 balance sheet?

Answer rating: 100% (QA)

To determine the amount at which the 15000 units of inventory should be reported on the December 31 ... View the full answer